Weekly Cattle Comments - 25.11.22

The high volumes through AuctionsPlus commercial cattle sales continued this week, with 22,116 head offered – back 4% on last week.The clearance rate was again subdued, while the value over reserve continues to be well below previous weeks levels, indicating a cautious buying market. Post-sale negotiations are expected to play a big part in securing further sales over the next few days.

This is only the third time in AuctionsPlus history that commercial cattle listings have exceeded 20,000 head for three consecutive weeks. The market is struggling to absorb the sustained high offerings, given the myriad of factors impacting the supply chain at present. Current listings have also been boosted by the significant backlog of cattle - delayed by wet conditions in recent months.

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

Steer results were mixed this week, with prices for three-out-of-five categories averaging lower, while overall numbers were back. Lighter steers were well supported, while the heavier two categories struggled under the weight of buyers reduced enthusiasm to meet vendors expectations. Light steers averaged $1,180/head across the 298 head offered, for an 82% clearance rate.

Steers weighing 200-280kg remained very similar to last week, with 1,735 head averaging $1,547/head – down $2 from last week and reaching a 69% clearance rate. From Croydon, North Queensland, a line of 122 Brahman steers aged 8-20 months old and weighing 210 kg lwt returned $1,020/head, or 486c/kg lwt. Medium weight steers gained $156 on last week, to average $1,887/head across the smaller offering of 1,995 head. From Penola, Lower Southeast SA, a line of 74 Hereford steers aged 7-8 months old and weighing 322kg lwt returned $2,130/head - $140 over reserve.

A slightly smaller offering of 2,218 steers weighing 330-400kg averaged $1,974/head - $179 lower than last week. From Benalla, Northern Victoria, a line of 44 Angus steers aged 14-15 months old and weighing 386kg lwt returned $2,170/head, or 563c/kg lwt. A larger offering of 1,557 feeder steers weighing over 400kg lwt averaged $251 lower this week, at $2,131/head. From Coolah, Central West NSW, a line of 17 Angus steers aged 12-14 months old and weighing 430kg lwt returned $2,130/head, or 496c/kg lwt.

Heifer results were mixed this week, with quality lines of future breeders highly sought after. A 15% larger offering than last week put downward pressure on clearance rates, while average prices were relatively stable. Light heifers bucked the trend with a smaller offering of 233 head, supporting a $237 rise in average prices to $1,122/head. 

The 200-280kg category of heifers registered a larger offering of 1,584 head and averaged $1,341/head – back $89 from last week. From Corfield, Western Queensland, a line of 80 Santa Gertrudis heifers aged 5-9 months old and weighing 252kg lwt returned $1,390/head, or 551c/kg lwt. Medium weight heifers recorded a larger offering of 1,572 head and averaged $1,945/head – up $17 on last week. From Boho, Northern Victoria, a line of 24 Angus heifers aged 9-10 months old and weighing 320kg lwt returned $2,430/head - $330 over reserve.

The 330-400kg heifer category averaged $101 higher this week, at $2,138/head across 2,999 heifers. From Barham, Riverina NSW, a line of 35 Limousin heifers aged 12-16 months old and weighing 360kg lwt returned $1,700/head, or 472c/kg lwt. Heavy heifers registered a smaller offering of 829 head and averaged $2,095/head – back $135 from last week. From Emmaville, NSW Northern Tablelands, a line of 32 Santa Gertrudis heifers aged 18-24 months old and weighing 420kg lwt returned $1,780/head - $100 over reserve.

Breeding stock numbers were back 22% this week, with fluctuating listings for each category contributing to mixed results. PTIC heifers registered 2,611 head, back 35% from last week, and averaged $2,733/head – up $328 on last week for a 46% clearance. From Tumut, Monaro NSW, a line of 40 Angus PTIC heifers aged 20-24 months old and weighing 510kg lwt returned $3,100/head - $100 over the reserve price.

PTIC cows swung the other way, with a 77% larger offering of 1,276 head averaging $2,752/head -back $207 from last week. From Walcha, NSW Northern Tablelands, a line of 30 Angus PTIC cows aged three-to-seven years old and weighing 616kg lwt returned $3,800/head - $300 over the reserve.

From Foster, Gippsland Victoria, a line of 12 Speckle Park NSM cows with 12 calves at foot returned $3,440/head. The cows were two-to-four-years-old and weighed an average 516kg lwt, while the calves, sired by Angus bulls, were 3-12 weeks old and weighed an average 105kg lwt.

NOTE: Prices as at 2pm, Friday 25^th November 2022

Table 1: AuctionsPlus National Cattle Prices

Table 2: AuctionsPlus Queensland Cattle Prices

Table 3: AuctionsPlus Angus Cattle Prices