THE remarkable young cattle market hit another high last week, as recent rains, especially in Queensland, boosted sentiment and continued to fuel demand for resupply. With supply hampered by rain and logistics, total AuctionsPlus offers were down 10% from the previous week, to 14,968 head. The strongest contraction was observed in the lines of young heifers, the 330-400 kg category having a return of 59 pc.
What was just as remarkable as the actual price received for the young cattle was the increasing frequency with which the milestones were crossed, with the EYCI rising to 1100c / kg this week. The EYCI first crossed the 700c on August 9, 2016. Exactly 1535 days later it crossed the 800c barrier on October 22, 2020. The next milestone, at 900c, was exceeded on April 14, 2021 – only 174 days later. By the end of July, most believed the final milestone had been reached, breaking the 1000c barrier on July 22 – in just 99 days. Last week’s new record, surpassing 1100c / kg on Nov. 17 – was slightly slower, at 118 days – but nonetheless considering the increasing degree of difficulty with each new higher step, an astonishing result.
AuctionsPlus’ overall results last week have been mixed, although liquidation rates for the lighter executive lines continue to exceed 95pc. Prices for the two lighter classes of steers and heifers contracted sharply, while prices for heavy steers rebounded, after a second week of reduced numbers, with steers weighing 400 kg and over up 39 cents per compared to the previous week, to finish at $ 2,467 / head.
Even with exceptional customs clearance rates and robust demand, prices for the lightest steers (under 200 kg and 200-280 kg) fell by 172c / kg ($ 118) and 46c / kg ($ 1,003 / head respectively). ), with an increase in the supply of dairy products influenced by sales in the south impacting the overall averages.
For the young heifer market, liquidation rates were also somewhat mixed, with numbers well behind in the midweight classes. Heifers weighing 200 to 280 kg fell an average of 17 cents last week, to $ 1,718 / head, while lines between 280 and 330 kg lifted 17 cents, for an average of $ 1,931.
A 35pc contraction in the supply of PTIC heifers this week failed to stop a drop in prices, back from 61c or $ 115 last week, to an average of $ 2,732 – with a liquidation rate of 75pc for the 1003 heads offered.
Using movement data, the majority of PTIC purchases are heading to the northeast corner of NSW. With very slim numbers in most of the reported breeding lines, prices varied, with the 777 PTIC cows on offer selling for 77pc, an average of 41c lower than last week, at $ 2,879.
In Nundle, NSW, Timor Cattle Co sold 146 Angus and Angus Cross NSM heifers as well as a few cows, most with calves on their feet. Prices ranged from 652c ($ 3270) for a line of 15 cows 5-9 years old with ten calves per foot, to 832.3c ($ 3870) for a line of 55 heifers 24-36 months weighing an average of 460kg, all with calves at the foot.
Source: Auctions Plus