Pakenham store cattle sale dominated by feedlot buyers
“Astounded” is how agents say they feel after the latest store sale at Pakenham, where heavier cattle have sold to strong demand.
Feedlots once again dominated the market at yesterday’s Pakenham store sale.
About 1970 heifers, steers, cows and calves were yarded, selling to a feedlot-dominated crowd.
Nutrien livestock auctioneer Andy Grant said the yarding was “a nice number” for buyers lining the rails, with plenty of heavy cattle selling to strong demand.
“All the pens were full, and we still had cattle down in the calf pens,” Mr Grant said.
“There was greater demand for the older cattle, and it continues to be feedlot demand. Each week they seem to be dearer, and prices were particularly strong yesterday.”
Steers at the heaver end of the market, between 650kg to 756kg sold between 362c/kg or $2740 and 426c/kg or $2770.
Pens of steers between 500kg and 600kg made returns from 424c/kg to 543c/kg.
“There was a lot of heavy cattle coming forward, selling for $2200 to $2800 for cattle weighing 450kg, all the way up to 660kg. It’s very strong,” Mr Grant said.
“It was mainly feedlots eating up the better end … local people were then scrambling on what was left behind. Again, the better range of the yearling cattle sold for $1700 to $1900 roughly. Coming down to the nine to 10 month-old calves, they looked strong and sold up around $1700.”
Heifers also sold well throughout the sale, with heifers between 280kg to 350kg making returns from 566c/kg 500c/kg to 560c/kg.
One pen of 19 heifers from producers D Kroger at Main Ridge, weighing in at 284kg, sold to $1610, or 566c/kg.
Mr Grant said each week agents were astounded by the ongoing rallying of prices, with the ideal seasonal conditions sure to help finish cattle off soundly.
“It’s a lot of money people are investing … but it’s all proportional,” Mr Grant said.
“The greatest thing is, you buy the cattle now, and you’ve got all spring to improve them. Even if you think you paid too much now, the season will get them through.”
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