Banquet spring bull sale 2020: Record-breaking averages for stud
Results from Friday’s Banquet Angus spring bull sale show the strength of the market as the industry recovers from drought. Here’s what the top-priced bull made.
PRICES have surged beyond $40,000 at this year’s Banquet Angus spring bull sale at Mortlake in a sign of the strength of the cattle industry.
With a new average price threshold set on Friday at $15,354, stud principal Stephen Branson said the results were as much a celebration of the industry as it was the bulls on offer.
“Clearly the industry is in a strong position at the moment. Our clients, those repeat buyers are being driven by that. They have been getting remarkable results with the progeny of our bulls,” Mr Branson said.
“There’s an element of both the herd rebuild … which is driving the store market, and that’s influencing the prices our clients are getting for their cattle, which puts us in a strong position. They had a lot more money to put into bulls.
“We had a client, he said he sold about 30 steers for $2700, that then gives them a lot of fire power. Obviously without feed, none of it would happen.”
All 31 bulls offered were sold for 100 per cent clearance.
Mr Branson said about three bulls were purchased via AuctionPlus.
“Tasmanian buyers were strong thing year.”
The top priced bull, 24-month-old Banquet Paddick P330 sold to Adrian Abrahams from Kilcunda for $41,000.
He has eye muscle area measurements of +5.6 and 400-day weight of +109.
“This is our highest average price yet,” Mr Branson said.
“Everyone will tell you that their bulls were better this year, but they were better, they were strong right along the entire line-up.”
MORE
Biden win lifts hopes for Aussie red-meat exports
Will a change in US presidency affect Australia’s relations with China? The red meat industry could benefit from Biden’s win, as tensions with China increase. Here’s what we know.
Northern state drives cattle price gains
Queenslanders are paying up to 100c/kg more for young cattle than what Victorian producers are handing out, as the northern wet season looms. How far this factor will push prices is in question.