Tim McRae
Staff member
- Joined
- Dec 4, 2023
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February proved to be a month of market consolidation and storms across key cattle regions. Rainfall for many regions of NSW and Queensland surpassed expectations, while dry and hot conditions plagued others. The better-than-expected seasonal conditions through February kept the EYCI buoyant in the 600’s for the full month, while finished cattle prices showed some stability through northern NSW and southern Queensland.
As the days get shorter, the question is will March become the fourth month of summer? If the hot conditions prevail, much of the pasture and price benefits of the summer rainfall will literally evaporate. A hotter and drier than “normal” autumn, as forecast by the BOM, could see producers looking back fondly at the prices in February. When cattle “just have to go” there is only one outcome for the market, with seasonal price lows traditionally registered in May through the cooler regions.
On The Box
The desire to have livestock more accessible to potential buyers has been a driving force for the creation and delivery of “On The Box (OTB)”. “If they can’t be seen, they can’t be sold” became a focal point and so far, with only three months of operations, it has delivered results.
The breadth and range of enquiries for stock offered throughout the month culminated in an average of 1,326 views per lot – easily exceeding rival sites. Again, with OTB, once assessed and listed, they stay visible until sold or expired!
February Sold Lots
Analyzing OTB activity, it is noticeably clear that the peak viewing time is between 7-9pm each evening. Not surprisingly, this corresponds to the peak viewing time for all online purchases. In short, most people can only look/shop/consider when they have time - and this also rings true for livestock.
The peak views through February came for a line of 28 weaned heifers, at 2,784 views - which were the only sold lot for the month that didn’t hit the buy now price. Listed on Friday 22nd February, the lot kicked into gear on the following Wednesday, with five bidders competing for the leading bid. When the sale closed out at 8pm, the heifers sold 18% above reserve, at $570/head.
As the days get shorter, the question is will March become the fourth month of summer? If the hot conditions prevail, much of the pasture and price benefits of the summer rainfall will literally evaporate. A hotter and drier than “normal” autumn, as forecast by the BOM, could see producers looking back fondly at the prices in February. When cattle “just have to go” there is only one outcome for the market, with seasonal price lows traditionally registered in May through the cooler regions.
On The Box
The desire to have livestock more accessible to potential buyers has been a driving force for the creation and delivery of “On The Box (OTB)”. “If they can’t be seen, they can’t be sold” became a focal point and so far, with only three months of operations, it has delivered results.
The breadth and range of enquiries for stock offered throughout the month culminated in an average of 1,326 views per lot – easily exceeding rival sites. Again, with OTB, once assessed and listed, they stay visible until sold or expired!
February Sold Lots
| Lot Description | Average weight | Location | Sold ($/head) | Selling agent | Views |
| 15 PTIC Angus Cows | 542kg | Jugiong, NSW | $2,000 | Nutrien - Wagga | 1,826 |
| 8 PTIC Angus Cows | 632kg | Jugiong, NSW | $1,800 | Nutrien - Wagga | 1,697 |
| 22 PTIC Angus Cows | 551kg | Jugiong, NSW | $2,000 | Nutrien - Wagga | 843 |
| 68 Crossbred Weaned Heifers | 249kg | Emerald, QLD | $760 | TopX Central QLD | 1,822 |
| 28 Weaned Angus Heifers | 138kg | Millthorpe, NSW | $570 | Bower & Livermore | 2,784 |
| 38 Weaned Angus | 170kg | Millthorpe, NSW | $800 | Bower & Livermore | 634 |
| 27 Weaned Angus Steers | 143kg | Millthorpe, NSW | $700 | Bower & Livermore | 810 |
| 50 Weaned Angus Steers | 200kg | Millthorpe, NSW | $1,000 | Bower & Livermore | 1,179 |
| 7 PTIC Wagyu Heifers | 265kg | Crows Nest, QLD | $3,100 | Adcock Partners | 2,157 |
Analyzing OTB activity, it is noticeably clear that the peak viewing time is between 7-9pm each evening. Not surprisingly, this corresponds to the peak viewing time for all online purchases. In short, most people can only look/shop/consider when they have time - and this also rings true for livestock.
The peak views through February came for a line of 28 weaned heifers, at 2,784 views - which were the only sold lot for the month that didn’t hit the buy now price. Listed on Friday 22nd February, the lot kicked into gear on the following Wednesday, with five bidders competing for the leading bid. When the sale closed out at 8pm, the heifers sold 18% above reserve, at $570/head.