Cattle supply is surprisingly low for this time of year, as most markets were again smaller. Wodonga, Tuesday, was the market to record a small lift in numbers, which included some very good quality vealers.
Are producers hanging onto to cattle, having more grass this summer, or are weaker price trends influencing what comes to market?
After seeing SEJ’s annual steer and heifer sale, Monday, it remains obvious that most of the yearling cattle, and some vealers, are being sold this way.
There were a few positives coming from MLA’s market reports this week. Generally, the supply of vealers is down with fewer producers rearing the top quality European calves. Prices were higher for these with most selling to 318 cents per kilogram liveweight.
Wodonga agents offered around 300 vealers, being the largest supply at any market. However the top price of the past week was at Warragul where the top price was 326c/kg. This market is often the best, but last Wednesday, a pen of 10 Charolais steer calves sold for 319c, a very good result for any current market.
Feedlot and restocker competition was solid at most reported markets, although averages were generally lower overall. Most steers sold to the trade from 265-285c, and heifers 245-265c/kg, while those returning to feed were 20c/kg higher on average.
Trade buyers are showing the least demand for steers and heifers, and while there were slight improvements in top prices, most averages were equal, and lower, although quality is fading with the hot weather.
The downturn in supply, whether price orientated or weather induced, has created some stronger demand for some lines of export cattle.
Wodonga, Tuesday, had the best supply of bullocks, and with one long absent processor, returning to this market, prices were seven cents higher on average, over 300 head.
Pakenham agents sold their bullocks to 270c, and the new Mortlake complex, 267c/kg lwt.
There were two stand outs for me, and that was a much smaller offering at Leongatha, last Wednesday, and Naracoorte, where supply fell away after a disastrous week previously. Having said this, there quote of 8c/kg higher at Naracoorte, still only saw a top price of 258c/kg.
Cow prices rallied on the back of much weaker supply. The top price achieved was 226c at Pakenham where supply halved to just 104 head. Most cows sold between 165&216c/kg although some very poor cows sold from a base of 48c, and up to 145c/kg lwt.
Pre-Christmas, bull prices were quite high, but know most are selling from 175-245c/kg.