Some excellent falls of rain continued to underpin the unprecedented demand for light cattle, with the EYCI jumping back above 900c during the week.
One of the features of this week’s Eastern States Cattle sale was two large offerings out of Daly Waters, in the Northern Territory.
Firstly, an offering of 538 Brahman backgrounder steers, averaging 287.2kg liveweight, 12-24 months of age, sold to an average of $1,165.9/head – or 882.6c/kg dressed.
Secondly, 505 NSM Brahman future breeder, sold to $1,068.5/head – averaging 273.3kg liveweight, also ranging between 12-24 months of age.
With total offerings through AuctionsPlus back 8% this week, to 14,522 head, prices increased for the mid-weight young steers, while the heavier end of the young heifer category registered steady price rises.
In keeping with this week’s wetter conditions, the most recent three-month rainfall outlook from the BOM points to a high chance of wetter than average conditions across the key eastern states’ cattle regions into September.
With the positive seasonal outlook already fully priced-in to the market, this week’s news out of the BOM will act to support producer sentiment and confidence throughout the winter months.
Large lines of quality steers under 200kg liveweight continue to be extremely tight, with only 375 head offered this week – averaging $1,011/head. One selected line of 69 unweaned Angus steers, out of Armidale, NSW, sold to $1,515/head – averaging 185.3/kg liveweight and between 5-8 months of age. A
verage prices for the 200-280kg and 280-330kg categories increased for the week, finishing at $1,514 and $1,693/head, respectively – with the clearance rate for the heavier category hitting 99% for the 1,967 head offered.
As the two lightest young heifer categories declined on last week, back $66 and $32/head, respectively, the 280-330kg liveweight offering averaged $82 higher, at $1,574 head – with an 89% clearance rate for the 901 head offered.
Producers’ willingness to hunt and pay for selected bloodlines was again evident through the PTIC heifer market this week, highlighted by a line of 20 vendor bred Angus PTIC heifers, selling to $3,225/head.
The 20 PTIC heifers, out of Tatong, Northern Victoria, had been AI by Millah Murrah bulls in late October, averaged 544.2kg liveweight and were 22-23 months of age.