Big drop in online cattle numbers

Despite a tighter supply pool, the weekly indicators were mixed, with value over reserve reducing by $19 to average $64 above set reserves, while clearance improved slightly to close the week at 56pc.

Prices were stronger for steer categories, while heifers experienced declines throughout the weight tiers.

The AuctionsPlus Young Cattle Indicator fell 16 cents a kilogram to 351c/kg lwt, while the benchmark steer indicator rose 3pc to average $1144.

Steer results were the standout, with all but the lightest category experiencing price increases.

Clearance rates were varied, mainly driven by supply, with the more heavily populated midweight steer categories seeing clearance range from 64pc to 77pc.

Both the lightest and the heaviest steer categories almost had a perfect week, with all 96 steers over 400kg selling and 97pc of the 287 steers under 200kg selling.

The sold-at-auction premium for June is averaging 9.11pc above post-auction sale results.

The weaner steer to heifer gap has widened further in the past seven days, with steers outperforming heifers by 17pc, which is 5pc above the one-month average of 12pc, although slightly below the yearly average of 18.84pc. Feeder steers are trailing weaner steers by 26c/kg.

Processor/lotfeeder activity was subdued, with 3.39pc of the sold offering being secured by a processor or lotfeeder.

Buyers were particularly interested in steers weighing 280-330kg and 330-400kg, while some bidding action was seen across some cow categories.

Listings fell from all states, with the largest drops in SA, down 68pc to a thin 187 head, and Tasmania, where listings were down 47pc to 129 head offered. NSW was the source of the largest chunk of cattle, with the 6021 head down 28pc from the previous week.

Steer prices were stronger across the board, with price gains felt throughout all categories apart from the lightest category.

Steers 280-330kg registered a smaller offering, with 1377 head, down 39pc, while prices lifted by $36 to average $1144, and a 77pc clearance rate was achieved.

From Guyra, NSW, a line of 71 Angus steers aged 10 to 11 months and weighing 311kg returned $1300, or 418c/kg lwt, and will travel to a buyer in Tenterfield, NSW.

Steers 330-400kg rose $76 to average $1396, with returned prices averaging 4.19pc above set reserve rates. Supply was much tighter, with 781 head, down 53pc, and the category achieving a 64pc clearance rate.

From Niangala, NSW, a line of 40 Angus steers aged 10 to 11 months and weighing 386kg returned $1560, or 404c/kg lwt, and will travel to a buyer in southern Queensland.

Heifer supply fell across all categories, especially for heifers under 200kg, which registered a 59pc reduction in numbers.

The smaller supply did little to lift competition, with prices falling for all categories on a $ basis, and all but one falling on a c/kg basis.

Clearance rates were extremely varied, with a large spread from 14pc to 62pc across the categories.

Demand increased with weight, with the lightest categories experiencing the weakest competition and the heavier end of the market registering higher clearance rates.

Heifers 200-280kg was the only category to report a price rise, with the category averaging 285c/kg lwt, increasing 2c/kg. Supply fell by 22pc to 1823 head, and competition was subdued with a 48pc clearance rate.

From Glen Innes, NSW, a line of 28 Angus heifers aged seven to nine months and weighing 261kg returned $860, or 330c/kg lwt, and will remain local.

Heifers 330-400kg registered a smaller offering of 317 head, with prices falling 9c to average 298c/kg lwt. Clearance was the strongest across all heifer categories, with a 63pc clearance rate achieved.

From Stony Creek, Vic, a line of 25 Angus heifers aged 16 to 18 months and weighing 387kg returned $1380, or 357c/kg lwt.

Breeding stock categories mainly fell in value, with four categories falling and two categories rising. Clearance rates were also varied, ranging from a low of 7pc to a high of 96pc. Pregnancy tested in-calf heifers was one of the categories to report a price rise, with 612 head registering a $306 rise to average $1643.

From Morven, NSW, a line of 23 Angus heifers aged 22 to 23 months and weighing 479kg returned $2100.

Sheep and lamb listings increased by 2.9pc, totalling 35,191 head. Clearance rates were at similar levels to the previous week, with clearance at auction falling 2pc to 50pc, which increased significantly with post-sale negotiations to close the week at 69pc.

Value over reserve averaged $11 over set reserves, although lots that sold during the auction averaged $17 above, showing the value of the auction system. The sold at auction premium was 38pc above post-auction sales, with lots that sold post-auction averaging 4pc under their reserve prices, whereas lots that sold at auction averaged 12pc over their reserve.

Lamb prices have continued their strong run, with the crossbred lamb indicator increasing by $6 to average $132 and the AuctionsPlus Restocker Lamb Indicator increased by 38c to average 662c/kg dressed weight.

Joined ewes made up most of the offering with 19,168 head, or 54pc of the total, as numbers rose 29pc. Lamb articles made up the second largest pool at 13,190 head, or 37pc of the offering, which was down 17pc.

Joined ewes benefited from the highest percent over reserve, averaging 10pc above set reserve rates, whereas lambs were 5.77pc above reserves.

Listing numbers were dominated by the central west of NSW, with 6846 head offered, of which 65pc of the pool found a purchaser, with buyers willing to go above reserve on average by 11.59pc.

Southern Queensland was the second highest region, with 3848 head, which was met with strong demand at an 84pc clearance and 16pc above reserves. The southern Queensland offering was heavily looked at by interstate buyers, with 57pc of the sold offering crossing the border.

Southwest Victoria also registered plenty of interstate purchasing, with 59pc of the 2538 sold head crossing into SA and NSW.

Central Western NSW was also the largest purchasing region, securing 8550 head or 35pc of the total sold offering, with southwest Victoria coming in second at 3041 head purchased.

Processer/feedlot activity dropped to 5.17pc, with buyers interested in shedding breed lambs, Merino wether lambs and crossbred lambs.

Two lots, or 535 head, of new season lambs were offered, with both lots finding a buyer and averaging $6 above their reserve.

Crossbred lambs registered a smaller offering of 4647 head, as prices increased to average $132 - up $6 for a 72pc clearance.

Crossbred lambs for the month of June are averaging $130, which is the highest monthly average for the category since August 2022.

From Cargo, NSW, a line of 248 Poll Dorset/Border Leicester/Merino mixed sex lambs which were Aug/Sep 2023 drop and weighed 42kg lwt returned $166, or 397c/kg.

Merino wether lambs registered a 37pc fall in numbers, with the 2993 head resulting in a subdued 43pc clearance rate. However, as a result of the smaller offering and selective purchasing the average price increased by $8 to average $73.

From Quilpie, a line of 690 Sep/Oct 2023 Merino wether lambs weighing 34kg lwt returned $70, or 208c/kg and will travel to a buyer in Mossgiel, NSW.

Scanned in-lamb Merino ewes registered a larger offering of 6824 head, which is 21pc higher than the previous week. The category met the demand well, with a 78pc clearance rate and prices rising by $12 to average $115.

From Hay, NSW, a line of 150 Merino SIL ewes aged 1.5 to 2 years and weighing 67kg returned $155.

SIL first-cross ewe numbers were flat on last week, with the 3204 head returning a 72pc clearance and falling in price by $3 to average $161. From Geurie, NSW, a line of 140 Border Leicester/Merino ewes aged 15 to 16 months and weighing 56kg returned $206.