What producers are forking out to get bulls for their herds

Averages are up, clearances are high and pockets are deep as hundreds of bulls go onto the market this spring.

Bull averages increased up to 44 per cent in the first week of spring sales across southern Australia.

And the sales to come over the next couple of months are expecting positive results.

Four key sales in the past week set the scene where a greater number of bulls sold for more money in an $8.5 million spending spree by cattle producers.

In results collated by The Weekly Times, almost 500 bulls, predominantly Angus, sold last week to a top of $65,000, averaging $17,266.

This compared to last year when fewer bulls – 423 – sold at the same sales averaged $14,617.

One of the main sales was Rennylea at Culcairn, NSW, where 212 Angus bulls, some of them just 12 months, averaged $22,531 with the sale grossing $4.78 million.

Last spring, they offered 40 fewer bulls and averaged $15,691.

Rennylea principal Lucinda Corrigan said they had been “blown away” by the competition for the 212 bulls, with the last to be offered still making $24,000.

“I think it shows that people are prepared to pay more on performance genetics they can trust,” Mrs Corrigan said.

“We don’t appeal to everyone but those who want carcass and fertility traits were willing to spend at our sale.”

Mrs Corrigan said the results also reflected the excellent season across of much of eastern Australia and that cattle producers were keen to get their females in calf to good genetics.

She said stellar bull results attracted young people into the beef industry, with seven of the Rennylea team under 36.

“We keep telling them that it doesn’t get better than this,” Mrs Corrigan said.

But there was a flip side though to the big lift in average, as some turned to other studs to buy bulls, she said.

Checking the figures at the at the Rennylea Angus sale at Culcairn, NSW, where 212 bulls grossed more than $4.7 million.

Nutrien Ag Solutions Victoria and Riverina stud stock manager Ray Attwell said producers were prepared to reinvest their better returns in more genetics.

“We are having a great season across much of Australia and you don’t get that very often,” Mr Attwell said.

“Producers have realised if they want to keep getting better prices, they need to keep paying for bulls to successfully do that.

“It also shows that producers are confident about the future of the industry.”

Marc Greening, of Injemira Angus, Book Book, NSW, sold all 45 bulls he offered with two making $22,000 at his sale last week.

He said the 28 per cent lift in average was rewarding with only two bulls making less than $10,000.

“We are building a client base and it’s only our second sale, so commercial clients are getting bulls at affordable prices,” Mr Greening said.