This is what a $160k bull looks cherish: Riverina Hereford sets Australian sale record

An Australian Poll Hereford bull smashed a 35-year sales record yesterday when it fetched $160,000 at a Novel South Wales auction.

Injemira Pork Genetics fetched the record trace at its 50th annual production sale at Book Book, south-east of Wagga Wagga, Novel South Wales.

The 17-month-veteran sire was purchased by a neighborhood of three investors, genetics company ABS Australia, Vielun Pastoral Company and Ardno Herefords from Mount Gambier.

The last Australian sale record for a Hereford bull was $120,000.

Stud principal Marc Greening said the bull stood out within the paddock and on paper.

“From low-initiating to excessive squawk … excessive muscle and mammoth marbling, it was real so pleasing to head out within the paddock and stare a bull that was backed up by that data.”

The bull has been nominated for the Herefords Australia Natty Sires program for 2021.

Grass-fed pork ‘top class’

Mr Greening said Herefords have been riding excessive on renewed demand for top class grass-fed product.

“Herefords have copped a little bit of a kicking over the years but certainly the tide is turning as far as I am concerned,” he said.

“You can stare within the trade and particular person sentiment … it’s probably taking a puny bit away from the organic demand.”

Cattle prices to remain excessive

ANZ Bank’s latest Agri Commodity Record reveals whereas cattle prices will likely fall from latest record highs in coming months, a “ideal storm” of factors meant they have been vulnerable to stay properly above the prolonged-time frame average.

The national herd rebuilding phase is predicted to proceed properly into 2021, limiting the quantity of cattle on the market.

“Even supposing prices came down 30 per cent from latest record ranges, that would mute mean that the benchmark Eastern Young Cattle Indicator (EYCI) was at around 620 cents per kilogram, a peak last seen in mid-2016 to mid-2017,” ANZ’s head of institutional food, beverage and agribusiness, Ian Hanrahan said.

However he advised cattle producers to make determined their profit forecasts factored in any imaginable changes in prices and curiosity rates.

“Assuming there is no longer another drought, major export shock or various black swan tournament, every major neighborhood along the pork provide chain will have to rethink their strategy going forward,” Mr Hanrahan said.

Mr Greening, from Injemira Pork Genetics said they have been thankful for the excessive prices fetched.

“Coming out of the dry duration and in this rebuilding phase, it’s certainly rewarding for a lot of of us that are getting returns for a hard slog over the last four or five years,” he said.