Strong buyer activity pushes heavy steers up by $235

The largest supply of heavy steers (400kg+) in several weeks was greeted with very strong buyer activity, with an 83% clearance rate for the 1,072 head offered.

Supported by strong demand, prices averaged $2,096/head – up $235 on the previous week.

The largest steer category for the week was 280-330kg steers, at 3,248 head – averaging $32 higher on last week, to $1,647/head.

All five young heifer categories increased this week, with 280-330kg lines averaging $18 higher on last week, at $1,504/head.

Similarly, the 200-280kg segment jumped $26 on last week, to $1,376/head – with an 83% clearance rate for the 2,511 head offered.

One of the features in the online cattle market last week was the steady transaction of cattle throughout the online auctions.

These transactions were largely the result of very shrewd bidding for weaners and yearlings, resulting in a very fast auction and lower initial clearance rates.

However, in the hours and days following, plenty of lines were transacted, as the sellers in most instances, lowered their initial reserves to settle transactions and ensure a sale.

This week’s auctions returned to typical length and clearance rates were higher across four of the five categories, with only mid weight 280-330 steers lower, at 50%.

However, recent trends point to further confirmed transactions over the weekend – but is yet to be seen whether it is sellers retreating slightly, or buyers digging deeper.

For proven and potential breeding lines, the largest category this week was for PTIC heifers, with 3,038 head offered.

At a 60% clearance rate, PTIC heifers for the week averaged $23 lower on last week, at $2,355/head.

An indicative line of 51 PTIC Angus heifers, from Barraba NSW, averaging 434.1kg liveweight and 17-18 months old sold to $2,480/head – equating to 1063.9c/kg dressed.

In contrast, the 1,126 PTIC cows offered online for the week averaged $153 higher, at $2,409/head – with a healthy 83% clearance rate.

-AuctionsPlus