Rain steers top price at sale

Hopes that recent rain would see a lift in cattle prices were realised for some sellers at Stanthorpe's annual weaner sale last week.

There were strong numbers at the Stanthorpe Weaner Sale on Thursday. Picture: Matthew Purcell

HOPES that recent rain would see a lift in cattle prices were realised for some sellers at Stanthorpe's annual weaner sale last week.

George and Fuhrmann sale coordinator Matthew Grayson said steers sold for between 20c and 30c per kilo more than expected.

"It was very, very strong,” he said.

"We didn't think it'd be that strong, it exceeded what we thought could be made.”

While he was reluctant to attribute a cause to the price hike, he said recent rain "has certainly helped - it's given people confidence knowing they're going to have oats coming on”.

"It's given people hope, if nothing else. There's green shoots of grass when you drive around now, which makes a difference.”

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Heiffers made market price, while the top price of the day went to Rod and Glenda Reeves' calves, which sold at $3.50kg.

Buyers paying top dollar came from as far Dalby, Moonie and Meandarra and Blackall in the north-west. Calco in Dalby bought more than 700 head.

From the south, they came from Benalla in Victoria and parts of New South Wales.

A spokesman for Meat and Livestock Australia's market intelligence team said that recent rain, while not drought-breaking, saw "a notable shift in market sentiment during the past fortnight”.

The Eastern Young Cattle Indicator has risen $1.05 in just two weeks.

"Regional reports suggest much more rain is required to rescue the season, however, markets responded quickly and decisively to recent falls,” the statement from MLA said.

"On Monday, the Eastern Young Cattle Indicator (EYCI) rose above 500c/kg carcass weight (cwt) for the first time since January.

"The pace of the recovery has been remarkable, as the indicator rose more than 100¢ in a fortnight for the first time on record.”

The price for veal is also rising as restockers gain confidence off the back of recent rainfall, the MLA spokesman said. It's up 16c on the live weight price the week prior and 20c high than the first week of March.