Local cattle vendors have pounced on a major surge in the market as $6.5 million was turned over at Wangaratta’s August feature sale last Thursday.
Around 100 people gathered with keen interest at the Wangaratta Livestock Exchange for the annual Gordan Sinclair Memorial Sale, which yarded a whopping 4700 head, some 1700 more than advertised.
The sale drew major interest from southern buyers based in the Penola and Naracoorte region looking to take advantage of a favourable season.
A surge in the market paired with heavy northern and southern interest over recent weeks prompted an offloading of cattle in the North East and beyond, with many vendors cashing in.
Of 2734 steers sold at Thursday’s sale, they went at an average of $5.65/kg with the lighter steers between 200-280kg reeling in returns of $5.77/kg on average and as much as $6.75/kg.
Latest Stories
In the heifers, heavier cattle in the 330-400kg range drew the most value at $4.68/kg on average and an overall average of $4.56/kg out of 1879 heifers sold.
Corcoran Parker cattle agent Reiley Murtagh said the sale was a great indication for the spring months and there was still plenty of time for the region to be receiving its much-needed downpour of rain to make for an ideal season.
“It’s not so touch and go at the minute, we’ve still got a comfortable six or seven weeks where we can get a rain and we’re still going to have a massive season in this area,” he said.
“Cattle prices are at a level where it’s very good for sellers and the cattle that people are buying are not over fat, they’re proper store animals.
“The weight of the cattle is exceptional for a buyer, it’s easily 40kg lighter than last year.
“For everyone involved it’s perfect times to be in.”
Coloured cattle including euro steers, Herefords and Black Baldy steers were also pushing the $6/kg mark.
Mr Murtagh said the season had turned on its head for those in the south west of the state and border South Australian communities, who have been subject to “crucifying” conditions.
“If it's a good season, we generally see those southern blokes go very strong but in the last 18 months, they've been copping it,” he said.
“But now they're having a good season, it's just turned around.”
Mr Murtagh said the positive market trend was expected to be maintained.
“Especially with the long-range forecast is all very positive in the world meat market and domestically,” he said.
Steve Mahoney and son Adam from Merrijig were selling 75 Black Baldy cattle some 10-11 months old with Fernhill Angus blood.
From 31 steers at an average of 233kg the Mahoney’s brought in $6.30/kg, and $4.80/kg for their 27 heifers.
Adam said it was an exceptional result for his old man.
“Pretty tough conditions we’ve had here in Merrijig, we’ve been feeding out a lot of hay and they’re probably 50 to 60 kilos lighter than what they were last year,” he said.
“We’ve had to buy in a lot of hay to get through that, but we got rewarded with good prices.”
Mr Mahoney said the farm was set for a good season if the region could be blessed with much needed rain over the next couple of months.
“Hopefully we can get out of this drought and things start looking good, because the prices are there,” he said.
“The cows will start calving soon, we just need the conditions to come along.”
