A big market of 4000 cattle tested confidence at Leongatha

Prime market values are falling and are now affecting store cattle values too. See the results of Leongatha’s market today.

Prices were cheaper at Leongatha today, but the fall was not as great as that being seen in prime markets.

The offering of about 4000 cattle saw feedlot operators bidding for heavier lines, but not with the same intensity as a fortnight earlier at the same centre.

It meant rates were cheaper, according to Nutrien Leongatha’s Brian McCormack, who described the market as “a bit off for prices”.

Feeder cattle sold cheaper at Leongatha’s store market.

“We had a really good market two weeks ago, and we were not getting today what we did then but it was not bad,” Mr McCormack said.

“All the feedlot operators were there but they were not bidding as strongly.”

Runs of Angus steers weighing more than 400 kilograms made $1600-$2000, with the top money paid for 530kg steers which worked out at 377c/kg liveweight.

Steers in this weight range were selling for 360-380c/kg.

Heavier steers, from 550-600 kilograms, returned 360-360c/kg with the top pen making to $2320.

Lighter weaner and yearling cattle, from 12-14 months and weighing 350-400kg, made $1400-$1600, working out at close to 400c/kg for some lines.

Steers weighing less than 300 kilograms made more than this, including one pen of Angus weighing 254 kilograms, which sold for $1140, working back to 448c/kg.

There was good competition for heavier heifers, Mr McCormack said, which were also destined for the feeder market.

There is still a margin in trading cattle, and buyers were active at Leongatha. Picture Yuri Kouzmin

These topped at $1800 for a pen that was 16-17 months.

Mr McCormack said the subdued prime market was largely responsible for a flow on effect to store sale results and a lift in the bullock and cow prices would encourage restockers to spend more.

But he said there was still a margin in trading cattle at the moment.

“If you can sell your bullocks for $2500 to $3000, it allows you to go out and spend $1500-$2000 on a replacement steer as the margin is there,” Mr McCormack said.