400c/kg the new barometer of steer prices, set at Euroa weaner sale

Rain in the past fortnight boosted weaner prices to more than 400c/kg at the Euroa special weaner sale. See the full sale report.

Agents take bids at the Euroa sale.

The new price barometer for quality Angus calves heading into the New Year sales has become 400c/kg-plus, with the feature steer sale at Euroa cracking this average on Wednesday.

The sale of 3000 Angus steers, mostly autumn drop weaners but with some older and heavier feedlot types, sold at dearer rates to average 401c/kg or $1301 a head across everything sold.

It was a celebratory result for vendors who had a nervous lead-in time before the game changing rains of the past fortnight.

“Two weeks ago we were worried about who would actually want these calves, but the buying strength was there today (Wednesday) and auctioneers didn’t have to hang and drag at all to get the price,” said breeder Harold Cocking, Black Magic Angus at Euroa.

“It all comes back to the rain and it is amazing what can change in a week or 10 days,” he said.

Nutrien Euroa agent Russell Mawson quoted prices as more than $100 stronger than the special weaner sale held at Yea late last month.

“I would say this sale was in the vicinity of $150 per head dearer than Yea and the only reason why is the rain,” he said.

Rodwells Euroa agent Mick Curtis said the rise in values meant genuine buyers wanting a good run of steers needed $1200-plus to get a good foothold into the market.

“Bidding was very consistent and people needed 400c/kg or a bit better on the main lines of calves,” he said.

BREAKDOWN OF SALE

The breakdown of the sale by steer weight was as follows, with the data supplied by AgriNous:

241 GROWN steers, 400-500kg, sold from $1360 to $1790 to average 376c/kg liveweight;

907 TOP weaner steers, 330-400kg, sold to $1560 and averaged $1400 at 395c/kg;

1186 WEANER steers, 280-330kg, sold to $1390 and averaged $1270 at 413c/kg; and

617 LIGHTER weaner steers, 200-280kg, sold to $1210 and averaged $1058 at an average of 408c/kg.

The data shows the sweet spot of the sale was middle run weaners at 280-330kg range, and among the highest liveweight priced calves sold was 290kg steers from Black Magic Angus which made $1300 or about 450c/kg.

It came as northern buyers from NSW areas like Tamworth, Moree and Dubbo stepped into the market, buying around a third of the offering, based on agents estimates. But a key strength to the sale was restockers from North East Victoria with agents from Wangaratta and Wodonga volume buyers, the calves reportedly destined for bullock finishers and feedlot backgrounders in valley country. There was also good South Gippsland support.

For vendors it helped dull some of the pain of 12-months ago when the livestock market was in the midst of its now infamous meltdown.

Mr Curtis compared the figures and the Euroa sale this week was about 80c/kg dearer than last December, which over a 300kg calf amounts to $240 a head.

Some averages from key vendors include:

• Black Magic: 206 Angus steers averaged 304kg and sold for an average $1279.

• Leonie Ryan, Kerami, Pyalong: 113 Angus steers averaged $1372.

• JH Wall & Sons, Lynefield: 105 steers averaged $1293.