Rain fuels weaner demand

At the same time, the Eastern Young Cattle Indicator rocketed to just below 340 cents a kilogram (carcase weight) on Tuesday, which was a significant shift from a market struggling to stay above 300c/kg a fortnight ago.

Feeder cattle prices reported by the National Livestock Reporting Service (NLRS) gained even more ground this week, particularly the short fed lines.

European Union-accredited (EU) steers to go on feed for 100 to 120 days averaged 208c/kg (liveweight), while the top of the market sat at about 215c/kg.

At Gunnedah’s annual weaner sale last Thursday, Davidson Cameron and Company agent Luke Scicluna, Gunnedah, said light steers sold as high as 232c/kg.

“This is the first widespread rain we’ve seen for 14 or 15 months,” Mr Scicluna said.

“There are plenty of people busy putting oats in and I think the market will firm up – not only the restocker market, but also the prime market.

“Once we start to get some consistent rainfall there’s going to be fewer good quality weaners about.”

The NLRS reported weaner steers at Gunnedah topped at $758, while the heifers sold to $587.

Landmark livestock agent Charlie Hart, Barraba, estimated the “Eulourie” weaner sale in the Upper Horton was at least $100 dearer than similar sales the week before.

“The market is strong since the rain – (it) has definitely lifted,” he said.

He said the district had recorded about 100 to 150 millimetres of rain, driving prices to a top of $670.

Glen Innes weaners topped at $741, reflecting the rain-fevered buying.

Elders Glen Innes livestock agent Geoff Hayes said rain was a contributor to the big change in the market.

“It was a very strong market, much dearer than earlier sales in the north,” Mr Hayes said.

“It was 40 cents (a kilogram) up on previous sales.”

He said much of the buying strength came from Dubbo, Queensland and Victoria.

Along the coastal strip, agents estimated weaner steer values shot up another 30c/kg to 40c/kg, or in dollars a head terms about $150.

During Casino’s George and Fuhrmann weaner sale late last week steers sold to a top of $760.

Repeat custom once again underpinned the solid result, with EU-accredited cattle hotly contested, although cattle did go as far as Victoria, South Australia and Meandarra in Queensland.

Greg Upton, Upton Pastoral Company, Walcha, took 542 EU steers, the majority weaned, to a $623 average.

Most were European-cross and Santa Gertrudis/Herefords.

Mr Upton said he was looking primarily for cattle with growth potential.

In the short-term he will seek agistment for the majority of the Casino purchases.

“We would have paid 170c/kg the week before for these steers, but with the turnaround we paid 190c/kg to 195c/kg on Thursday and 210c/kg on Friday – that’s the difference rain makes,” he said.

On the Southern Tablelands, weaner steers continue to hit the market following several weeks of sales.

At Cooma last week, buyers and vendors braved a heavy downpour to attend the sale of about 1700 cattle.

John Mooney and Company principal John Mooney, Cooma, said the market was up $20 to $50 a head on the previous week’s sale, and weaner heifers recorded the best price rises.

Weaner steers sold to $610, yearling steers to a top of $750, and cows with calves to a sale top of $840.

“It was a good quality yarding of genuine July- to September-drop calves,” Mr Mooney said.

– with SHAN GOODWIN, RUTH CASKEY, and JESSICA FRECKLINGTON