Weekly Cattle Comments - 27.05.22

An increased offering of light steers was matched by voracious interest out of southern Queensland this week, as overall AuctionsPlus commercial cattle numbers jumped 8%, to 19,543 head. Given the recent rain through Queensland it was no surprise that competition kicked into high gear this week for the lighter lines, with nine-out-of-ten young steer and heifer categories averaging higher.

Given the very wet May through many parts of Queensland, a surge in competition from buyers was always anticipated – time was just needed for things to dry out and transport access to be possible. Adding to the recent rain has been this week’s release from the BOM, reiterating the high chances of another wet winter through eastern Australia. Rounding out the week, the first winters blast of 2022 is expected to hit the southern states in coming days – which will reportedly be very welcome follow up rain through parts of western Victoria and southern NSW.

An increased offering of both 200-280kg and 280-330kg steers failed to dint prices this week, with offerings up 12% and 14%, respectively, on last week. While clearance rates fluctuated between the two categories, 200-280kg steers averaged $99 higher on last week, at $1,782/head, with a subdued 57% clearance rate for the 2,822 head offered. 280-330kg steers averaged $46 higher this week, at $2,162/head, with a very healthy 83% clearance rate for the 2,427 head offered. From Forbes NSW, a line of 50 Shorthorn weaned steers aged 9-10 months and averaging 290kg returned $2,240/head. Further north in Moree NSW, a line of 38 Poll Hereford weaned steers aged 10-11 months old and averaging 326kg lwt returned $2,010/head, or 617c/kg lwt.

While feeder steer offerings remained limited, increased demand had prices kicking 29c, or $132/head up on last week, averaging $2,486/head, or 565c/kg lwt. From Barcaldine, Western Queensland, a line of 208 Santa Gertrudis cross feeder steers, aged 14-20 months old and averaging 442kg lwt, returned $2,350/head. The 208 head were offered as two even lines run-out-the-gate, with both lots set to travel to Burra, SA.

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

For 200-280kg heifers, prices averaged $94 higher on last week, at $1,827/head – with a 64% clearance rate for the 1,560 head offered. There were substantial price gains through the heavier lines, with quality and bloodlines again highly sort after, as clearance rates remained below average. Boosting the weekly average for the 280-330kg category this week was 66 Wagyu heifers out of Roma, southern Queensland, averaging 302.2kg and ranging from 16–18-month-old, which sold to $4,020/head – or 1,330c/kg lwt.

The proven breeder category was again dominated by the PTIC lines, with interest and catalogue views very high, but immediate clearance rates below average. The 3,203 PTIC heifers sold to a very cautious market, with a 55% clearance rate, averaging $39 lower for the week, at $2,733/head. From Richmond, North Queensland, a line of 100 Braford PTIC heifers, joined to Santa Gertrudis bulls, aged 17-30 months old and averaging 421kg lwt, returned $2,820/head – headed to a buyer in Longreach, Queensland.

Similarly, PTIC cows averaged lower on last week, down $272, at $2,803/head – with a higher 72% clearance rate for the 2,460 head offered. From Scone NSW, a line of 45 Angus PTIC cows joined to Angus bulls, aged 3-4 years and averaging 530kg lwt returned $3,700/head – sold to a buyer from Glen Iris, Victoria.

From Winton, Western Queensland, a line of 50 Charolais cross cows and calves returned $2,880/head. The cows ranged in age from 2-14 years, averaged 460kg lwt - while the calves averaged 172kg lwt.

NOTE: Prices as at 2pm, Friday 27^th May 2022