THE region’s cattle sellers have seen a significant drop in price at recent sales, as light weight steers and heifers begin to decrease in value.
Gunnedah’s most recent cattle sale saw more than 2000 head of cattle go up for bids with light weight steers and heifers making up a large portion of those up for sale.
Manilla stock agent, Sam Plevey told Fairfax Media while prices were on the way down there was still plenty of opportunities available to buyers.
“Personally I think there are some unbelievable opportunities available to buyers looking to stock up on weaner sized cattle,” Mr Plevey said.
“The fact there are so many of those cattle that are in between the 150 to 300kg range gives people a real chance of making some money.
“At the moment it’s possible to get them for as little as 110 cents a kilogram, feed them up and to the point of being feed lot ready in the 300 to 800kg range and selling them for a significantly better price.
“Plus there are so many quality weaner cattle about at the moment so it’s perfect for restockers.”
Mr Plevey said sourcing feed would be an obstacle for those looking to buy light weight cattle.
“Obviously sourcing feed is a problem for most producers in the region,” he said.
“However, for someone who is well prepared and has a backlog of feed, or a consistent feed source, there are some really exciting opportunities presenting themselves.
“I have heard many stories from people who have taken a bit of a gamble in previous droughts and come out well ahead when the drought breaks.
“Who knows, we might see that happen in this drought.”
The Manilla stock agent said the recent drop in price was down to a “combination of reasons”.
“There are a lot of factors at play that are contributing to the current market price,” he said.
“A lot of people are off loading their weaner sized calves and flooding the market not just here but at markets across northern NSW as well.
“I’d say that is one of the reasons, that particularly in Gunnedah, why we have seen restocker cattle go from being our strongest performers to one of the worst.”
Mr Plevey said he expected to see a gap in the market occur in the coming months.
“I think a lot of people are looking to hold and sell in late September early October,” he said.
“That’s where we’ll see numbers coming to market drop a bit.
“My advice to anyone looking to sell is to try and hold off until the cattle get to feed lot ready weight.
“If they are at that weight we are seeing people still getting well rewarded and remunerated for their stock.”