It was raining bids at Angus bull sales across the state as stud and commercial breeders splurged $5.63 million on the latest genetics to lift their herds.
Easily exceeding the expectations of both agents and stud breeders, 768 Angus bulls sold from 814 offered for a $7341 average during 2020 SA Angus Week.
This buoyant average was up more than $650 on 2019 when 731 of the 845 bulls offered were sold, averaging $6687.
Good falls across at least some of drought-affected areas in the eastern states has seen the Eastern Young Cattle Indicator hit unchartered territory above $7 a kilogram, and feedlots are offering $4/kg-plus liveweight for feeder steers.
The good timing of the rain has no doubt buoyed the 14 sales held in the South East and Mid North.
But, the 94 per cent clearance of such a large number of bulls also shows the massive market share the Angus breed has carved out.
The $31,000 highest price for the week was paid at Damian and Mandy Gommers' Mandayen stud, Keith, which smashed their previous Angus record of $18,000.
The Coonamble Hector H249 son, which weighed 900 kilograms at only 21 months of age, was bought by the Cowley family's Roseleigh stud, Pinnaroo.
In just their fourth year selling Angus, Mandayen had a total clearance of 44 bulls for a $8818 average.
That outstanding average was only eclipsed by the Moyle family's Pathfinder stud, which sold 112 of 120 bulls for a magical $8880 average at its Naracoorte sale.
Hazeldean stud was the big improver, with its sale average at Willalooka jumping more than $2200 to $7676 for 51 bulls sold.
Whilst our bull sales have been happening, the price of beef in the marketplace is just going up and up and up which has definitely helped, along with some rain in some areas.
- GORDON WOOD
A few bulls sold to stations in northern SA and around Alice Springs, NT, but the bulk of bulls have headed to herds in the Adelaide Hills, South East and western Vic.
Nutrien Livestock SA stud stock manager Gordon Wood said the clearance at Angus sales was above his expectation and while he had predicted a small rise in average, he was pleasantly surprised to see most studs post significant lifts.
"Whilst our bull sales have been happening, the price of beef in the marketplace is just going up and up and up which has definitely helped, along with some rain in some areas," he said.
"Some places even in the south had (100 millimetres) a few weeks before sales - whether it is the right or wrong time of year there is no doubt there is always a little bit more confidence when you look out in the paddock and see a green tinge."
Mr Wood said breeders were intent on growing the national herd which was the lowest in decades, just as the flock rebuild was on too.
"There may be a small correction but it is hard to see cattle prices falling in the next six to 12 months," he said.
Elders SA stud stock manager Tony Wetherall said the clearance was a "bit better" than he expected but commercial cattle breeders were "brimming with confidence" with rain "up north" and the rallying market.
"Commercial fellas are really willing to invest in their genetics, the way the market is heading they can afford to do it and they know they will get the genetic gains," he said.
Mr Wetherall noticed this season, buyers were placing more emphasis on Breedplan figures rather than just visually selecting bulls.
"The better figured bulls with good fat, good muscle, good growth and good low birthweights are the ones making good money," he said.
- Bull sale reports P27-34