Weekly Cattle Comments - 20.05.22

Despite clearer conditions, overall cattle supplies were subdued again this week, with AuctionsPlus commercial cattle offerings easing to 17,326 head – back 7% from last week. Driving the drop in supply has been logistical issues culminating from wet paddocks in some areas, which in turn has led to strong demand from Queensland and northern NSW, who secured a large chuck of the weaner and yearling purchases. This was reflected in higher prices for most steer categories – regaining some of the loses from last week.

Wet and cold conditions have temporarily cooled demand for breeding lines this week, despite high moisture levels expected to support ongoing herd rebuilding activity. Results were mixed for young heifer lines with no clear trend in prices while clearance rates in lighter heifers were notably stronger than the heavier lines.

Light young steers were mixed this week, with less than 200kg steers increasing $112 on last week, regaining half of the previous week’s loss to average $1,010/head. While 200-280kg steers dropped another $45 to average $1,683/head. With 2,527 head offered, at a 78% clearance rate, these lighter categories were relatively stable compared to the heavier lines. From Normanton, Queensland a line of 208 4-12-month-old Brahman steers weighing 204kg lwt returned $1,410/head or 690c/kg. The same vendor also offered a line of heifers consisting of 145 head which weigh an average of 186kg and returned $1,120/head.

Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Weekly Cattle Prices
Table 3: AuctionsPlus Angus Weekly Cattle Prices

For the heavier 280-330kg steers, prices averaged $142 higher, at $2,116/head, regaining the previous weeks’ losses and then some. Clearance rates for the category supported the price rise, rising to 83% with the larger offering of 2,121 head. 330-400kg steers experienced a return to usual offerings this week, with the 1,566 head offered tripling the 493 head last week, with confidence in the heavier lines remaining robust as clearance rates also rose on last week to reach 77%- up from 55% last week. The return of northern bids helped prices rise by $108 on last week, to $2,151/head. Another large run of Queensland steers consisting of 204 head of Droughtmaster Backgrounders aged 6-10 months weighing 313kg lwt returned $2,040 or 651c/kg lwt.

The heaviest steer category didn’t miss out on the stronger market this week, with 400kg+ steers rising $105/head on last week, to average $2,354/head. The clearance rate for the reduced offering bounced back up to reach 79% across the 449 head offered.

For the five young heifer categories mixed results were achieved across the board while clearance rates were stronger compared to last week. 200-280kg heifers averaged $70 higher, at $1,733/head across the 1,675 head offered, while 330-400kg lines averaged $38 lower, at $2,129/head for the 702 head offered. From Cudal, NSW two even lines totaling 70 head of 9-10-month-old Angus heifers weighing 279kg lwt returned $2,410/head or 866c/kg lwt which will travel to a buyer in Moree, NSW.

The lineup of PTIC cows and PTIC heifers was reduced this week, with offerings of 1,738 and 2,997 head, respectively. While clearance rates for PTIC heifers remained low at 42%, the category averaged $207 lower than last week, at $2,772/head despite some standout lines which extended the maximum for the category to $4,880/head. PTIC cows slipped $7 on last week, to $3,076/head – quality lines supported a 61% clearance rate. As has been the trend throughout 2022, PTIC heifer clearance rates are expected to rise in the coming days, as post-sale negotiations kick into gear. A line of 96 PTIC Brahman heifers from Reid River, Queensland aged 28-34 months weighing 393kg lwt returned $2,610/head and will travel to a buyer in Rolleston, Queensland. A highlight included a line of Angus PTIC cows aged 3-4-years weighing 633kg lwt from Borambola, NSW which came up against strong bidding activity to return $4,410/head - $1,600 over their reserve price to a buyer in Dalveen, Queensland.

NSM cows and calves dropped $292 to average $3,449/head, despite the clearance rate jumping from 63% the week before to 84%. From Moyhu, Victoria two lines of 2-3-year-old Angus NSM cows with CAF weighing 562kg and 514kg lwt returned $3,850/head and will travel to a buyer in Penola, SA.

NOTE: Prices as at 2pm, Friday 20^th May 2022