Elders auctioneer Carlo Taranto (right) and John McBride with his calf, which went for a record high price at Monday’s auction, in the background.By Sarah Schwager
PAKENHAM cattle prices are soaring.
A calf at the Pakenham Victorian Livestock Exchange auctioned for $2.642 per kilogram.
It is a price that has been hailed as the highest ever.
Branch manager of auction group Elders Pakenham Pat Reddan said the price per kilogram for cattle was getting consistently more expensive, costing about 50 cents more than at the same time last year.
The calf, weighing in at 420 kilograms, was sold by Kooweerup farmer John McBride for $1110.
“This would have to be a record for a vealer calf,” Mr Reddan said.
He believes cattle prices were at an all time high at the auction because of the smaller number of cattle on offer – 500 less than the previous week. “It is unusual for this time of year to market this small number of cattle,” Mr Reddan said.
He said it was most likely a reflection of the drought and a cull in cattle numbers.
“Also a lot of guys have gone off rearing cattle for vealer production,” he said.
Mr Reddan said cattle prices had climbed across the market.
“Steel cattle have been dearer, especially coming into the season,” he said.
He said that with the recent rain farmers were starting to procure their cattle, driving the market higher.
“If the cattle is right and suitable, you won’t get better prices than now,” he said. He envisaged the prices staying high for the next two months.
