Cattle prices continue at record levels

That's how livestock agents are describing the cattle market as each new week seems to herald new record prices for selling facilities.

The market trending up at this time of the year is not out of the norm, driven by the weather forecast, but the base from which the market trajectory started is what is enabling never-before-seen prices.

Charters Towers agent Jim Geaney said in all the years he has been in the agency game, he's never seen a price rise go on for so long.

"We've seen rises in the past, but we've seen rises followed by very quick corrections within a few weeks," he said.

"But this has been continuing now since the beginning of the year and it's been consistently good."

The tight supply in southern regions has seen restockers push into northern markets, bringing increased competition at both Mareeba and Charters Towers sales.

Last week, a line of high grade Brahman No.0 weaner steers set a new Charters Towers Saleyards record of 530 cents a kilogram.

Meanwhile, Mareeba saw yearling steers hit 478.2c last week and yearling heifers reach a top of 420.2c this week - both new records for the saleyards.

Steer prices also surged into uncharted territory at CQLX last week, when a pen of Brangus steers under 200kg were snapped up by a Moura restocker for a facility record of 522c.

Selling agent Josh Heck, SBB/GDL, said restockers continue to drive the market.

"It's by far the best I've seen it across all sections - weaners, breeders, kill cattle - it's just phenomenal," Mr Heck said.

"It's still fairly dry in a lot of places up here at the moment but people are worried that if it rains, they won't be able to find cattle at all so they're trying to get in before it does rain.

"We're still getting a strong presence every week from New South Wales who are still restocking and providing plenty of competition."

Mr Heck said despite the positive position of the cattle market at present, people were worried about where it goes to next.

"At some stage the market will come back again when the supply outweighs the demand, so I guess it's just on tenterhooks a bit, making sure you can get in and get out of cattle soon enough so that you're not burnt."

Seeing prices more than double what they were at this time last year, the Roma Saleyards record books have been rewritten in consecutive weeks.

Last week, weaner steers under 220kg topped at 572c to set a facility record, but that was surpassed on Tuesday when a pen sold to 578c.

TopX agent Cyril Close said the demand was across all categories, rather than for something specific.

"What we have noticed is that the traditional people that buy one class of animal have now gone away from that and are dipping their toe into other categories," Mr Close said.

"The options that they're taking are more diverse because they're trying to maximise some sort of profitability in their trades."

Mr Close said unless producers were selling in the current market, it was pretty hard to step into it and buy.

"If you are selling in the same market, well it keeps the wheels turning around. But if you've been out for a long time and you're trying to get in now, that's a very high risk market where it's at never-before-seen levels."

Like other agents, Mr Close believes the promising weather forecast, and the fear of missing out on cattle if it eventuates, is fuelling prices.

"If the forecast was where we were this time last year, there's no way we would see this trajectory.

"If that rain turns up, I believe we'll see sustained levels. Unfortunately we've seen them be wrong before and hopefully they're not this time, for a lot of people's sake."