Millions spent in world record-breaking bull sales as the Australian cattle market boomed
The sale of over $5.5 million of bulls in western central New South Wales broke a world record for the average price of bulls.
the main points:
- Bulls sold at Millah Murrah Angus sales averaged $43,632, a new world record
- Ross Thompson, director of Stud, says the sale was “exceptional” with more than $5 million spent.
- Market experts say livestock industry is thriving despite FMD concerns
At Millah Murrah Angus Sales, near Bathurst, 128 available bulls were sold for an average price of $43,633, beating the previous record of $34,221 set last year at the same sale.
The most expensive bull, once Milla Sugar Ray, sold for $160,000.
Last year, Millah Murrah set the record for the single cost of a bull, after selling a stud bull for $280,000.
Ross Thompson, stud manager and owner Millah Murrah Angus, said he was overwhelmed by the sale.
“I thought we might average about $30,000, I knew we didn’t have any of those quarter-million-dollar bulls that we had last year,” he said.
“It’s unbelievably humble. I’m honestly so numb, I’ve never felt that way, it’s such an extraordinary feeling.”
Livestock market boom
Mr Thompson said the money the farmers spent was a reflection of the strength of the livestock industry at the moment, despite concerns surrounding FMD.
“You’ve had a cattle market that’s been going strong for a long time now,” he said.
“People have had a good income for the last two or three years, they have the budget to go out and pick the bull they want, which is why all of this has come to a head here.”
A record-breaking sale was also seen in Meandarra, in Queensland’s Western Downs, which topped $40,000 – a record for Queensland Simmental.
Glenn Waldron, of Elite Cattle Co., said all pieces sold at an average of $17,818, up from last year’s average of $13,000.
He attributed this improvement to the rebuilding of the national herd, as well as successive good seasons.
“A lot of people ended up with boogers left by all the cattle at the end of 2019 on the back of 2018 and 2019 which are horrible years,” he said.
“People have been rewarded a lot for what their fetishes have achieved in the past two years, especially 12 months, so they are investing in some of the better genes while they have the money on hand.”
Waldron, also an agent, said the cattle market is well positioned to continue rising.
“I think the cattle market will start for a little while after we have some very dry weather again,” he said.
“Global factors will dictate things too, a lot of things are out of our control. That might have an effect but we can only deal with what we have.”
It follows a record-breaking sale at Nola Livestock, a staple based near Gloucester in the middle of the North Coast.
Her highest-grossing bull sold for $190,000 – the highest nationally paid price for a bull so far this season and set a national record for highest single-seller cattle sales with $5.8 million in revenue.