AS SEEN IN THE ANNUAL – Page 40 & 41 – Murray Grey “Hoofprint”

Courtesy Of AuctionsPlus

The first 11 months of the 2023 calendar year registered a total of 4,462 head of Murray Grey-infused cattle listed on the AuctionsPlus platform. The Murray Grey hoofprint extends primarily from SE Queensland down through the Tablelands of NSW, northern Victoria and into Tasmania. There was also significant activity in SE South Australia and in the southwest of WA (see Figure 1).

New South Wales was the largest listing state with 1,641 head across all Murray Grey-infused cattle, accounting for a little over a third (37%) of total listings. Tasmania was the second highest at 1,224 head, or 27%, of total listings. Victoria and South Australia each accounted for 13% and 11% of the market respectively.

Tasmania was the most active buying state for Murray Grey, accounting for 33% of purchases. NSW was the second largest buyer, accounting for 27% of the purchases on AuctionsPlus.

South Australia and Victoria purchased 16% and 12% of the sold stock respectively.

AuctionsPlus Murray Grey Listings

Murray Grey/Angus-cross was the most prevalent crossbreed with 20%, or 890, of the total head offered. Murray Grey/Friesian-cross and Murray Grey/Limousin-cross were the next most represented at 110 head each.

Throughout 2023, a noticeable trend has been the interstate purchases associated with the breed, where 43% of all Murray Grey listings travelled outside of their listed state. Leading the way was Victoria, with 62% of all listed Murray Grey lines heading out of the state, followed by NSW at 54% finding an interstate buyer.

Price Trends

2023 was a difficult year for the cattle industry, as the decline from the top of the cattle market in early 2023 was rapid and severe, and Murray Greys were no exception. The commercial market was the hardest hit, with the EYCI indictor declining 62% in less than 12 months to a low of 349c/kg carcase weight (cwt) on 18 October 2023. This decline of 66%, which fell from 1,024/kg cwt on 1 November 2022, returned prices back to levels last seen in 2014.

The AuctionsPlus commercial market has felt the full force of this rapid change of direction. The AYCI (AuctionsPlus Young Cattle Indicator), which has the same parameters as the EYCI, recorded a low of 409 c/kg cwt on 29 September 2023, down 72% from the high of 1,439 c/kg cwt on 9 September 2022. Although the low of the AYCI traded at a premium to the EYCI of 15.8%, the fall was much sharper and from a higher base. Currently, the AYCI is trading at a 17.6% premium to the EYCI, which is above the average of the 11c/kg cwt premium since 2016.

Price fluctuations for young (200-400kg steers and heifers) Murray Grey-infused cattle sold on AuctionsPlus are consistent with that of the broader market (see Figure 3). Since the Q4 high of 2022, prices have dropped beyond the March 2019 previous recent low.

Murray Grey prices in Q3 2023 averaged $944/head across all categories, 12% higher than Q3 in 2018. In Q3, all categories averaged 22% lower than the previous quarter and 53% lower than the corresponding quarter in 2022. Heifers 200-280kg were the most represented category in the most recent quarter, with the 244 head averaging $549/head. Steers in the same weight category registered 139 head and averaged $710/head, while station-mated cows recorded 119 head and averaged $1,629/head.

Here is the link to the online version of the annual > 2023 / 2024 Murray Grey Annual  

If you would like your own copy of the Annual please contact Maddie in the Office.