It was another very tough trading week for the national cattle market, both online and through physical markets, with prices easing further. For online activity, the combination of the winter doldrums, rising production costs and waning sentiment continued to keep both buyers and vendors on the side lines. With a total of 12,387 head offered, AuctionsPlus commercial cattle offerings were back 3% on last week, with significant price declines across the young steer lines and proven breeders.
Prices across heavier steer and heifer categories eased considerably while clearance rates also reflected a cautious market. Post-sale negotiations over coming days will see overall sales rise however vendor price points will be challenged by buyers seeking out value.
With the regular numbers of registered users logging into the commercial sales again this week, the comparatively low clearance rates display the hesitancy within the market. Buyers are increasingly sitting on their hands hoping for further price declines, while vendors have the feed reserves to hold stock and maintain established reserve levels awaiting spring conditions.
It was tough going through the young steer market this week, with prices back across the board. 200-280kg steers averaged $107 lower on last week, at $1,550, with a 58% clearance rate for the 1,546 head offered. From Muttaburra, Queensland, a line of 136 Santa Gertrudis/Brahman steers weighing 208kg lwt returned $1,390/head, sold to a buyer from Ashbourne, SA.
It was harder going for the 280-330kg steer lines, averaging $1,630/head – down $170 on last week. The 50% clearance rate for the 1,117 head offered was up slightly on last weeks’ 47% from 1,971 head. Declines got larger with the weight categories, with 330-400kg steers back $208 on last week, averaging $1,847/head – with the 20% clearance rate for the 1,016 head clearly demonstrating the hesitancy within the market at the moment. From Boondooma, Queensland, a line of Angus/Charbray steers weighing 354kg lwt, aged 7-9 months, returned $1,900/head to a Queensland buyer.
From Holbrook, NSW a total of 134 18-22-month-old Angus feeder steers, averaging 481kg lwt and split across two lots, returned $2,730/head.
The young heifer market was mixed, with some price rises through the mid-weights, as 200-280kg lines averaged $49 lower on last week, at $1,352/head. From Wallumbilla North, Southern Queensland, a line of 20 Droughtmaster heifers aged 8-10-months weighing 279kg lwt returned $1,900/head.
Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Weekly Cattle Prices
Table 3: AuctionsPlus Angus Weekly Cattle Prices
280-330kg heifers showed the strongest result for the week, with a 67% clearance rate for the 815 head offered. Prices for the week lifted $140, to average $1,751/head. From Corryong, Victoria, a line of Hereford heifers aged 10-11 months weighing 308kg lwt returned $1,410/head and will travel to Cudgewa, Victoria.
330-400kg lines jumped $351/head, with some excellent quality lines boosting the average, given the 42% clearance rate for the limited 594 head offered. From Grong Grong, NSW Riverina, two lines totaling 110 head of Angus Backgrounder heifers weighing 366kg lwt returned $2,200/head and will travel to a buyer in Millmerran.
For the proven breeding lines it was all red ink this week, with PTIC heifers averaging $424 lower on last week, at $2,080/head. Given the influence of breed, weight and bloodlines on buyer demand across the PTIC categories, large price movements can occur, especially with the lower clearance rates. With 2,401 PTIC heifers offered this week, the clearance rate was 31%, while the 1,417 PTIC cows registered a 24% clearance rate. From Naracoorte, SA, a line of 39-40-month-old Angus PTIC heifers weighing 697kg topped the category, at $2,920/head. These heifers are set to take the short trip north, to Keith, SA.
From Cassilis, NSW, a line of 24 20-month-old Angus heifers with CAF returned $3,140/head - $500 above their reserve price and will travel to a buyer in Kanimbla, NSW.
NOTE: Prices as at 2pm, Friday 22nd July 2022