The southern weaner sales are almost over, and despite opening a little weaker than December, the results have positive compared to last year and compared to the market in general.
The southern weaner sales are almost over, and despite opening a little weaker than December, the results have been positive compared to last year and compared to the market in general.
Figure 1 is the same chart as we published back in December, but with some slight adjustments. Angus weaner steers around 300kg lwt sold in Western Victoria in a 500–580c/kg lwt range. We’ve used 540c as the average price for this chart.
Before Christmas, Angus weaners were making closer to 570c, so a little of the heat has come out of the market; this is despite the Eastern Young Cattle Indicator (EYCI) opening 2026 at similar levels to the end of 2025.
Figure 1 shows that despite the weakening across the break, Angus weaner cattle achieved their second-highest price on record, behind the extreme levels of 2022. Weaner prices were up 28% on last year, and 76% on two years ago.
Another measure of the relative values of weaners is to compare the young cattle market in general, for which we use the EYCI. Weaner steers sold at a 17% premium to the EYCI, which is above the long-term average of 12%, but below records seen in some ‘grass fever’ years.
Figure 2 shows a basic trading budget, with a range of sell price scenarios. The concerns around the Chinese beef quota, and what that might do to finished grain-fed cattle, and therefore feeder prices, have lowered the bottom end of expectations. At a sale price of 425c/kg lwt there isn’t much in backgrounding steers. At current prices or better the margins look healthier.
There looked to be some value in the heifer sales, which had a wide price range. With a lot of Angus heifers selling around the 470c/kg lwt range, they were at a significant discount to steers, and at parity with the EYCI.
There were pens of heifers which sold for close to the money steers were making, which may be an indication of the type of value those looking to restock breeding herds were prepared to pay.
Note that this trade calculation does not include feed, freight, treatments, or administrative costs. These will differ between enterprises and should be assessed individually when considering any trade.
What does it mean?
With a little bit of price uncertainty creeping in around what cattle prices might do later this year, this year’s weaner sales might have slightly gone in favour of sellers. Of course, the decline of the southern herd thanks to drought, and a good spring creating a feed bank, has helped prices; buyers might be taking some slimmer trading margins this year.
Key Points
- Southern weaner cattle prices opened a little weaker than the close of 2025.
- The weaner premium to the EYCI was strong, but not at record levels.
- At current feeder prices there is good margins in backgrounding, but there is some risk.
Click on figure to expand
Click on figure to expand
Data sources: MLA, Mecardo
