Wednesday, March 20, 2024

Rain creates spring markets in summer

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What about that rain, huh is a phrase heard often at sale yards around the country and a significant key in driving store cattle prices. Markets almost feel spring-like as grass-driven demand brings more buyers into them though, unfortunately, the same cannot be said for numbers so it’s a bit of an uneven equation.
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We did, however, see decent sized fairs at Matawhero, Wairoa and Taranaki last week, which quenched the thirst of some big buyers in those markets in the short term, though they had to pay through the nose for the cattle.

The real excitement, though, was in Northland where buyers managed to wade out of their once farms now lakes and head to the Wellsford sale yards, which played host to two dairy beef weaner fairs on Tuesday and Wednesday. Few opportunities of this kind come up so close to home for buyers so when they do, nothing will stop them getting to where they need to be – not 200-400mm of rain in about 10 days and flooding – no way. Buyers who couldn’t make the journey did make sure they had their orders in.

Predictions were that the market was going to be strong, but it exceeded all expectations as records were set in all sections of the fair. Beef-Friesian steer prices lifted $130-$200 on last year while the heifer market improved by $80-$160. Friesian bulls lifted $105-$140 for spring-born calves and $80-$170 for the autumn-born lines. While those lifts can in part be attributed to two polar opposite summers, the general lack of volume of store cattle nationwide is playing a huge part in not just this market but all around the country. Store cattle prices have reached a whole new level in the past few years and by all accounts they look set to remain there.

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