Big dips for weaner prices at Euroa’s signature black sale

The talk was that calf prices would be down, but no one was expecting the $650 drop that some vendors saw at Euroa.

Tight dollar-per-head buying regardless of calf weight helped support vendor incomes at the Euroa special Angus steer sale, but there was still much talk of the big price cuts compared to a year ago.

The yarding of more than 3000 steers was part of the annual “Black Friday” sale series and included some of the best bred Angus calves produced in the area.

Bidding reached a top of $2040 for 30 March/April-drop weaned calves bred by John and Cathy Harrison of Warrenall. The calves had a displayed weight of 389kg to work out at 524c/kg liveweight price.

Breeder John Harrison, Warrenall, with his pen of 30 Angus steers, which topped Wednesday’s Euroa Black Friday steer sale at $2040 a head. Picture: Jenny Kelly

They were one of just five pens of heavy steers in the opening laneway that managed to creep above $2000, causing many in the crowd to comment how few buyers were prepared to spend that sort of money in the current uncertain trading climate.

It meant there was calves as heavy as 400kg that didn’t hit $2000, with most of the lead calves from $1900 to $1990.

It also meant there were some big “haircuts” recorded for breeders on their top calves compared to a year ago, including Sue Gall and Richard McGeehan, who sold 389kg Angus for $1950 compared to $2600 for similar weights 12 months ago.

“We knew it was going to be lower but it is a massive drop,’’ Ms Gall said.

“We’re happy to cop a drop but a change in price like this of nearly $700 does change your budget.’’

But then the sale gained traction as the middle and third runs of calves were sold, with the bulk of sales from $1700 to $1900 regardless of weight.

This caused isolated sales of lighter calves to push towards 600c/kg as dollar-per-head buying kicked in. An example was the pen of the Black Magic steers bred by Harold Cocking, which sold for $1830 on a weight of 308kg (594c/kg).

Commission buyer Andrew Lowe, who was the lone northern order to operate against mostly local and northeast Victoria restocking competition, said the store market had become very “dollar-per-head price sensitive’’ as returns for feeder and heavier slaughter cattle rolled back.

Agents such as Steve Harrison, Elders Euroa, said it meant the best buying opportunities were in the lead runs of steers showing weight as they hit buyer resistance in the form of price spending caps.

“I bought steers in the opening laneway at $1890 and 20 pens in there was much lighter steers still making up to $1890 also,’’ he said.