WEANER cattle prices have leapt to their highest value in a decade, spurred on by rejuvenated interstate demand as the annual sales period kicked off in the Western District this week.
Confirming northern supply concerns, long-haul buyers have trucked more than one-third of the 6500-head offered to-date at the Hamilton and Casterton saleyards to destinations above Dubbo, NSW and as far north as to Roma, Queensland.
The intense interstate inquiry has lifted the buying goalpost to 215-237 cents a kilogram or an average of $710 a head, with the highest prices soaring to $924.
The higher trading platform has elevated vendor returns by 40c/kg or $120-$150/hd above last year, replicating strong highs last seen in 2011.
"Demand for the heavy top-end calves has been dominated by feedlot buyers, and once off these, the inquiry has been evenly contested by solid restocker support from many areas of NSW, Qld, Victoria and South Australia," said Craig Pertzel (pictured), who is an auctioneer for Kerr & Co at Hamilton.
As concerns mount about recuperating the contracted national beef herd, the spotlight is now on the State's weaner sales supply.
It is good news for Victorian vendors as a developing weather event threatens to dump huge rains on eastern Australia later in the week and has seen buyers scrambling to secure their orders and get trucks on the road heading North.
Meanwhile, improved prime cattle prices have also played a role in lifting confidence in the beef sector.
Yesterday, bullock prices fetched 237c/kg at Mount Gambier, SA, and 230c/kg at Leongatha.
Norman Geary, Boorool, near Leongatha, sold the top-priced Angus-Hereford bullocks at the Gippsland selling centre - and said he could not ever recall getting a price that high before, having been in the game for a couple of decades.
Agents said a supply shortage and additional buying competition was the reason behind the spike.
