Store cattle prices continue to hold on

That's according to Nutrien Euroa branch manager Russell Mawson, who said the town's latest store sale saw buyers "trying to readjust on a readjustment".

Mr Mawson said while prices on heavier cattle eased at several selling centres, prices for lighter steers continued their upward trend.

He said Euroa saw prices hit a high of $2620 a head, with nearly 100 pens sold before they dipped below $2300.

"I am still not convinced the big numbers are out there, given the fact that we have had a great season and not everyone is in a hurry to have to sell," he said.

"It's a different industry, it's a different world to 12 months ago; I don't know what the dearest price was last year, but I reckon there is a $700 increase in price.

"I have heifers I bought for clients for $1300 and the same replacements are going to cost me $1800-$1900.

"It's grass driven, the economy seems to have a lot of money floating around in it and confidence breeds confidence.

"There is a lot of moisture between here and Queensland and a lot of green feed."

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Mr Mawson said there were probably only "10 key buyers in a yard full of people" at Euroa.

"Everyone is trying to readjust, we are trying to readjust on a readjustment and the market keeps going up, up and up," he said.

Charles Stewart livestock consultant Jamie McConachy said Colac enjoyed another run of autumn-drop weaner calves, which would normally be held over until the January or February sales.

"For them to hit the market in such a great number was outstanding and they sold particularly well," Mr McConachy said.

"What was the greatest surprise was the weight for age, there was tremendous weight for cattle that were only nine and 10-months-old - they were anywhere from mid-300-420kg."

He said the great season in the region was reflected in the cattle presented at Colac.

"There is a lot of breeding that goes with it," he said.

"I don't know you can do it on feed alone."

Heavy cattle prices at Leongatha and Colac both eased off previous highs.

Agents at Leongatha yarded about 3000 head of cattle, with vendor-bred consignments selling above expectations.

Elders Leongatha and Korumburra livestock manager Rohan McRae said well-bred weaner cattle "that everybody wants are very hard to buy".

"Prices for heavier cattle have probably eased 20-30 cents a kilogram, due to supply and a little bit of an issue with COVID-19, in that they couldn't kill and bone them quickly enough," Mr McRae said.

He said those restrictions seemed to be resolved.

"There is a big season everywhere and the cattle are coming up quickly," he said.

"Some places, such as deep South Gippsland where they were very wet for a long time, may have dried up a little bit.

"You would have to say cattle are really putting the weight on and there is still a pent up demand for those cattle between $2000-$2500."

He said vendors continued to take advantage of the market.