Weekly Cattle Comments - 6.01.23

It was a slow first week for AuctionsPlus commercial cattle, with attention firmly fixed upon the kick-off to the weaner sales through southern regions.

Online offerings hit a total of 3,527 head for the week, with the thin offerings for the first week of the year making any price comparison to the influx at the end of 2022 difficult.

In most years, the national cattle market doesn’t really get into full swing until after the Australia Day holiday, with the feature weaner sales providing the key indicators for early season market sentiment. Early weaner sales this week have registered average prices contracting by 20-30% on the corresponding sales last year, but quality and breeding continue to show-out. The recent run of “drier” conditions through parts of the eastern states has been well received by many frustrated producers, albeit as some parts of Australia continue to register record rainfall events. 

With the 3,527 head offered, the clearance rate at the immediate closure of the auction was 51%, with the final value over reserve sitting at $93/head. PTIC heifers were the largest category for the week at 603 head, ranging from $2,370 – $3,532/head and averaging $2,755/head.

Table 1: AuctionsPlus National Weekly Cattle Prices

The young steer lines were mixed this week, with the limited numbers preventing any price change comparisons on late 2022. The largest offering was through the 400kg+ lines, with the 451 head offered selling to a 79% clearance rate and averaging $2,019/head. The 320 200-280kg steers sold to strong competition, with the 92% clearance rate helping the average reach $1,442/head.

It was a very similar story through the young heifer lines, with the 330-400kg category the largest, with 470 head offered. However, clearance rates were very low for the category at the immediate conclusion of the auction, at 24% - averaging $1,716/head.

With the first full trading week approaching next week and many operators returning from breaks, both online activity and offerings are expected to improve, as the early weaner sales point to a continuation of the very cautious buyer sentiment which was prominent across the market in the closing weeks of 2022.

Note: Prices as at 2pm Friday 6th January 2023.

Table 1: AuctionsPlus National Cattle Prices