Exporter demand for bullocks pushes Wangaratta Angus steer prices to $2150

Strong demand has pushed Wangaratta cattle prices within striking distance of the 2021-22 boom, despite tough seasonal conditions forcing early sales.

Exporters offering higher prices for heavy bullocks helped fuel a lively Wangaratta store cattle sale on Thursday, with feature pens of Angus steer calves reaching $2150.

The big November yarding of 4600 cattle held a healthy trend line of 600c/kg and more on well bred young steers, with lightweight black calves hitting a peak of 775c/kg.

The results were good enough to have people discussing where the sale sat in terms of past years, including the boom of 2021 and 2022 when store cattle were at record levels, and the verdict was this Wangaratta sale wasn’t far off the pace.

“It is nearly right back at that level and demand is so strong we are getting away with a few cattle that are not quite right as people are setting their sights (in dollar terms) and if the miss them they drop back and seem to pay more for the next lot anyway,’’ said Mansfield agent Steve ‘Rowdy’ Purcell, from Corcoran Parker.

This sale had developed into a bigger-than-usual monthly store market, as some north-east breeders opted to sell weaner cattle early after a tough year that eroded hay reserves and has still left some regions tight for stock water.

There was 4600 cattle yarded, ranging from cows and calves through to steers of all breeds and quality, and a quality heifer run that was led by some feature lines of Angus.

The sale attracted a big crowd, some agents telling The Weekly Times they had attended in the hope the market may have had some chances due to the sheer number of store cattle that have hit saleyards this week in both Victoria and NSW.

Livestock agents take the bids at Wangaratta store sale. Picture: Jenny Kelly

The draw at Dubbo, also on Thursday, was in excess of 10,000 cattle, while in the south Mortlake and Ballarat have near capacity yardings.

But there was no gaps in the auction at Wangaratta, with a strong opening on heavier steers which buyers said was linked to key export processors lifting rates for prime bullocks in the past week.

The Weekly Times was advised that exporters were actively “chasing” heavy bullocks and rates had lifted to 900c to 940c/kg carcass weight equivalent, which was resulting in averages of $3000 to $3500 per head for sellers.

At Wangaratta the heavy steers started at a base of around 500c/kg, for a top of $2690 for the opening pen of 18 Angus steers from Clover Hill Pastoral in the King Valley. On a weight of 540kg it worked out at 500c/kg liveweight.

As the market progressed the rate continually climbed as steers got younger and lighter.

Jingellic producers Andrew Cumming and Sarah Dahlenburg were volume vendors with more than 250 Angus yearlings in the sale after they decided to prioritise feed for their cows and sell ahead of the January markets.

Their lead line of 122 steers weighing 356kg sold for $2130 or 598c/kg, with the next draft of 60 at 300kg then making $1850 to break the $6 barrier at a cost of 617c/kg.

Mr Cumming said it was a great result, but drew attention to the amount of feed and cost which had gone into retaining breeding stock in the past year.

“These prices are getting close to the best we’ve had, but the bloody cost to get them here (referring to hay and grain),’’ he said.

“We would normally sell in January but we are coming off a very tough season so we are going to give what grass we have to the cows.’’

Jingellic producers Andrew Cumming and Sarah Dahlenburg were volume vendors with more than 250 Angus yearlings in the sale after they decided to prioritise feed for their cows and sell ahead of the January markets. Picture: Jenny Kelly

Also selling early was Emma Iddison, Windswept Holdings at Killawarra. Here 29 Angus steer weaners aged eight months and weighing 326kg sold for $2150 or 660c/kg.

She said the decision was based around the current strength of the store market, conserving feed, and not having to manage young calves into the summer when issues like pink-eye can arise.

“The market is very good and we just don’t have to manage them for that extra time,’’ she said.

Local North East agents were the dominant buyers of the lead Angus weaner steers, including Kevin Corcoran who purchased multiple pens above $2000 per head.

He said they were mostly for bullock clients who had been receiving $3000 plus for heavy steers, meaning the trading margin was still OK.

“There is a lot of encouragement coming from the kill job for heavy export cattle, as when you’ve got bullocks going out the gate at $3400 and you can buy in the best Angus weaners at $2100 the change-over is still as good as we’ve seen it.’’

There were a lot of buyers, however, who were reluctant to pay over $2000 and the comfort zone for bidding was $1500 to $1900 for a lot of young steers, regardless of size or sometimes quality as dollar per head buying kicked in.

Late in the steer run there were several pens of well-bred but light Angus steer calves weighing just 200kg to 220kg which sold from $1550 to $1630 to make over 700c/kg.

The heifer sale opened with a starting base of around 480c/kg on quality Angus, some early results included 123 yearling Angus heifers from Gobarralong Valley Beef which weighed around 350kg and sold for $1720 to $1750 to feeder orders.

The best sale when this report was being compiled, with heifers still to be sold, was $1730 for a pen of 18 Angus yearlings from Mollyullah Pastoral which weighed 356kg, returning 485c/kg.