Breeding stock hard to shift

Prices for benchmark steers 280-330kg rose by 8pc while value over reserve also jumped $53 points to $76. The AuctionsPlus young cattle indicator also rose 23 points.

It was green pretty much across the board this week in terms of per head prices with a positive (50pc+) clearance across 14 of the 20 categories.

Across the larger listings of midweight steers and midweight heifers (between 200 and 400kg), clearance was a strong 60-74pc. Backgrounders looked to be active in the market, particularly out of Queensland where rain was forecast.

Queensland buyers were most active in the heifer market, with an 83pc clearance, while steers cleared at 69pc. They have been active in buying stock out of NSW.

Across the platform, clearance was particularly strong for Angus at 79pc for steers and 69pc for heifers.

Breeding stock continues to be hard to shift, scraping along at 35pc clearance across all AuctionsPlus sales.

The good clearance on heifers particularly might also have something to do with the vendors deciding to meet the market. This week, reserves dropped $100 across the board:

Reserves and prices are tightening for stock that sells, as vendors who are keen to clear have been foreshadowing the market in terms of price expectation. They have been enjoying a 4-10pc bump in terms of value over reserve.

Vendors at the start of the year who were overly optimistic in terms of price have failed to sell but in recent weeks they have begun to meet the market. Their optimism has returned this week, while the reserve for sold stock has gone in the other direction.

Steers 200-280kg registered a 14pc smaller offering of 1692 head and averaged $1067 - up $186 from the previous week for a 74pc clearance. Prices ranged from 191 - 469c/kg and averaged 425c/kg lwt.

From Bombala, NSW, a line of 75 Angus steers aged six to eight months and weighing 271kg returned $1205, or 444c/kg lwt and will travel to a buyer in St George.

Steers 330-400kg registered a 36pc smaller offering of 1735 head and averaged $1191 - up $15 for a 67pc clearance. Prices ranged from 290 - 394c/kg and averaged 330c/kg lwt.

From Moama, NSW, a line of 132 Charolais/Santa Gertrudis steers aged 10 to 12 months and weighing 357kg returned $1200, or 336c/kg lwt and will travel to a buyer in Warrnambool, VIC.

Heifers 200-280kg registered a 25pc larger offering of 1017 head and averaged $676 - up $13 for a 65pc clearance. Prices ranged from 210 - 372c/kg and averaged 288c/kg lwt.

From Tamworth, NSW, a line of 11 Shorthorn heifers aged seven to eight months and weighing 244kg returned $910, or 372c/kg lwt and will travel to a buyer in Dunedoo, NSW.

Heifers 280-330kg registered a 28pc smaller offering of 1144 head and averaged $907 for a 77pc clearance. Prices ranged from 258 - 333c/kg and averaged 312c/kg lwt.

From Barraba, NSW, a line of 112 Angus/Angus heifers aged 14 to 18 months and weighing 291kg returned $970, or 333c/kg lwt and will travel to a buyer in St George.

Pregnancy tested in-calf heifers registered a 3pc larger offering of 1009 head and averaged $1695 - up $278 for a 10pc clearance.

From Tarcutta, NSW, a line of 24 Angus heifers aged 18 to 20 months and weighing 431kg returned $1530, or 355c/kg lwt and will travel to a buyer in Wellington, NSW.

PTIC cows registered a 38pc smaller offering of 881 head and averaged $1452 - down $224 for a 56pc clearance.

From Scone, NSW, a line of six pure Simmental cows aged 2.5 to 4.5 years and weighing 538kg returned $2000, or 372c/kg lwt and will travel to a buyer in Baerami Creek, NSW.

Sheep and lamb listings fell 24pc to 59,103 head with a 15pc rise of the crossbred lamb indicator to $116 and a 49c/kg boost to the AuctionsPlus restocker indicator known as ARLI which is now sitting at 557c/kg.

There was a 3pc drop in the clearance rate to 46pc, however value over reserve rose by $2 to average $7 across all listings.

All lamb categories stayed firm or lifted in an average dollars per head return, with the value of crossbred lambs as well as composite/other breed lambs the standout, increasing by $16 this week to average $116.

Scanned in-lamb composite/other breed ewes lifted to average $158, a 35pc increase from the previous week, however station-mated shedding breed ewes dropped an average of $31.

Interestingly while the SM shedding breed ewes price dropped, it recorded a 75pc clearance, well above the SIL composite/other breed ewes which had a positive price lift but just a 53pc clearance.

This could indicate the shedding breed vendors were more prepared to take a lower price, or had to let go of them due to seasonal or other reasons.

Listings fell in NSW, with 13,190 fewer sheep and lambs sold from that state. WA re-entered the market, the first time in five weeks, with 1229 offered. WA vendors have offered just 2829 head on AuctionsPlus in 2024.

Purchases fell in all states apart from SA, which bought an additional 1327 last week, as well as WA, which purchased 632 head, or about half of what the state offered. Processor purchases declined again last week, with just 460 Merino wether lambs snapped up.

Crossbred lambs registered a 27pc smaller offering in head, with prices rising $16 to average $116 for a 51pc clearance.

From Griffith, NSW a line of 172 Poll Dorset/Border Leicester/Merino mixed sex Sept 2023 store lambs weighing 41kg lwt returned $146, or 355c/kg and will travel to a buyer in Cowra, NSW.

The 11,792 Merino wether lambs offered was a 23pc decrease on the previous week's auction. Prices responded favourably to the decreased supply, with a $10 increase and a 73pc clearance rate.

From Brewarrina, NSW, a line of 620 Merino wethers August 2023 drop and weighing an average of 44kg lwt returned $96, or 215c/kg and will travel to a buyer in Jamestown, SA.

There were 4605 Merino ewe hoggets offered, down 25pc. Prices were back by $4 to record an average price of $85. Clearance lifted to 57pc.