Saturday, April 20, 2024

Strong bull market expected

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A strong weaner market is giving way to a strong bull sale market.
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That seems to be the talk in the beef sector though there are no guarantees.

“We don’t know yet,” leading Reporoa Hereford stud bull breeder Kevin McDonald said.

He expected a clearer picture to emerge after this week’s Beef Expo sale at Feilding.

He and wife Jane had the top-priced Hereford bull at last year’s expo, with their Kairuru Lasso fetching $20,000.

“Past experience is that when weaners sell well, the bulls sell well.”

The weaner market was very strong throughout the country.

The bull sale season kicks off in the North Island this week.

The Kairuru Stud onfarm sale was on June 7 and McDonald was getting reasonable interest, though a couple of regular buyers had indicated they are happy to continue with their existing bulls rather than add to them this year.

The Kairuru bulls were in excellent condition. “One of the best lines we’ve had,” he said.

Others were also reporting bulls around the country were presenting well after great weather.

“They’re in great nick and we think we’ll have a very good season,” NZ Farmers Livestock’s Waikato-based stud stock adviser Brent Bougen said.

“I think it will be similar to last year.”

His season started with the King Country Charolais sale on May 29, the first of eight sales in that area.

One proviso he had, which was shared by PGG Wrightson North Island livestock manager Tom Mowat, was that there were fewer breeding cows on farms this year, perhaps requiring fewer bulls.

That would be the only factor holding the market back, Mowat said.

However, his main view was that with the cattle market being as strong as it was, bull sales “should be on a good wicket”.

He expected results at least as good as last year.

AgriHQ analyst Reece Brick also noted the smaller cow herds and thought the season might depend on how keen farmers were to put their money into buying good genetics.

High lamb prices had also been a past guide to strong bull sales and lamb prices had been very good over the last two months especially, he said.

“It’s a wait and see situation but I think we’ll have a good market.”

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