Online markets lift for new financial year

Cattle

The online cattle market looked to mimic upwards movements similar to the saleyard, as prices for young cattle continue to break new ground. The 2 July sale saw the majority of online categories stabilise or lift when analysing week-on-week comparisons. It is rare that all of the primary categories lift in the same week, highlighting the abundant strength for light to mid weight cattle along with breeding cows.

As rain simmers across the eastern states, prices launched on the back of tightened supply, providing confidence in all forms of the store markets.

Weaner heifers and steers hit $2,034 and $1,889/head respectively, with yearling heifers skyrocketing to $1,986/head, up $85 week-on-week – the highest average price for that category in the eastern states’ weekly sale.

Cows are also still in hot demand, achieving an average of $2,608/head, a testament to producer efforts to rebuild.

Sheep

Despite continued declining yardings in 2021, most categories experienced mild lifts in supply, correlating with higher prices for the 6 July sale. Young categories were able to gather price momentum as older lines dwindled.

Merino and crossbred lambs found support, lifting $10 and $18/head respectively. Crossbred suckers lifted $16/head week-on-week, highlighting demand for younger lines as producers head into the lamb fattening period as they build towards the spring flush.

Similar to the physical market, sheep and lamb prices have remained stable for most of 2021 despite continued low supply, reflective of seasonal trends, with moderate improvements experienced in the last month.