Weekly Cattle Comments - 02.09.22

Listings through AuctionsPlus commercial cattle sales bounced higher this week, assisted by prices consolidating at stronger levels, with 13,097 head offered, up 35% on last week. Weaners and yearlings were the main contributors to the higher supply, as vendors became more comfortable with prices on offer, but they continued to hold back on breeding stock. The first days of Spring inspired buyer activity, pushing the average value over reserve to $200/head.

Renewed confidence in the industry, as exhibited at recent bull sales, pushed prices for most categories higher this week. Demand was strong across the young stock categories, easily soaking up increased listings. Buyers continue to be highly selective on quality and bloodlines for the breeding lines, with the average price paid over reserve at $204/head, while clearance rates were subdued at 52% for the Eastern States cattle sale.

Listings of steers jumped across the board, with three-out-of-five categories also increasing in average price. Listings of 200-280kg steers increased to 1,489 head, which averaged $1,859/head – up $275 on last week, for a 98% clearance rate. From Longreach, Western Queensland, a line of 120 Santa Gertrudis steers aged 3-10 months and averaging 264kg lwt, returned $1,840/head, or 696c/kg lwt.

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

Medium steers recaptured last week’s falls, as 1,248 head of 280-330kg steers averaged $201 higher, at $2,073/head and 96% clearance. From Bingara, NSW, a line of 36 Shorthorn steers aged 10-12 months and averaging 296kg lwt, returned $1,960/head or 661c/kg - $310 over the reserve price.
A larger listing of 2,123 head of 330-400kg steers slipped back $47 after back-to-back increases in previous weeks, to average $2,159/head, at an 88% clearance rate. From Grong Grong, NSW, a line of 80 Angus steers aged 11-12 months and averaging 351kg returned $2,250/head - $200 over the reserve price. Heavy steers also experienced strong demand for the larger listing of 1,400 head of 400kg+ steers, with 94% of listings sold to an average of $2,425 – up $42 on last week.

Heifer categories were all painted with green ink this week, except heavy heifers, which slipped back off significant gains from the week prior. A small offering of light heifers averaged $1,452/head – up $354 on last week. Listings of 200-280kg heifers increased to 1,008 head, selling to a 92% clearance rate and $1,673/head average – up $42. From Wandoan, Southern Queensland, a line of 112 Hereford heifers aged 6-9 months and averaging 213kg lwt returned $1,360/head - $140 over the reserve price.

Offerings of 280-330kg heifers were up, with the 803 head reaching an 89% clearance and increasing by $66, to average $2,019/head. From Bombala, NSW, a line of 63 Angus heifers aged 10-12 months and averaging 307kg lwt returned $2,320/head, or 756c/kg lwt.

Over double the number of 330-400kg heifers on offer compared to last week was not enough to dent prices, with the 1,172 head reaching a 95% clearance rate and averaging $2,206 – up $7. From Aramac, Western Queensland, a line of 150 Droughtmaster/Droughtmaster cross heifers aged 12-24 months and averaging 339kg lwt returned $1,780/head - $380 over the reserve price. A significant increase in listings of 400kg+ heifers saw prices come back $96, following last week’s significant gains. The 810 head averaged $2,490/head and sold to a 93% clearance rate.

Vendors rebuilding intentions and thoughts of spring growth kept breeding lines on-farm, while selective buying inspired higher prices, but lower clearances. Listings of PTIC heifers declined slightly to 1,386 head, selling to a 43% clearance rate and average price of $2,585/head – up $111. From Mudgee, NSW, a line of 44 Angus PTIC heifers aged 24 months and averaging 494kg lwt returned $2,920/head - $320 over the reserve price.

Likewise, listings of PTIC cows were also back slightly, with the 417 head averaging $209 higher at $2,785/head and 58% clearance. From Gulargambone, NSW, a line of 14 Shorthorn PTIC cows aged 4-8 years and averaging 612kg lwt returned $2,930 – $700 over the reserve price.

From Mount Gamier, SA, a line of 25 Angus cows and calves returned $4,000/head. The cows were aged 20-24 months and averaged 405kg lwt while the Angus sired calves were 4-8 weeks old and averaged 68kg.

NOTE: Prices as at 2pm, Friday 2^nd September 2022