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AS the book closes on stud and commercial bull sales for the year, 2024 will be remembered as a patchy year for many bull breeders, with local seasonal impacts and market forces delivering erratic results compared with the previous two years.

As the graphs and tables set out in this report show, some breeds have improved their numbers sold, clearance rates and average prices on last year, while other have gone the other way.

That’s somewhat unusual in the 11 years that this annual report has been produced. More often than not, once a trend is set, it tends to follow across virtually all breeds reported. For example last year, all ten breeds showed a decline in average prices paid compared with 2022 – down anywhere from 15 to 37 percent.

This year, a couple of breeds gained more than $1000 in average price, while another lost a whopping $5000. Others were spread between those extremes.

What’s clearly evident in the 11-year trend graph below is that the price/demand ‘bubble’ that occurred during the post-drought herd rebuilding years 2021 and 2022 has now passed, and statistics are back closer to longer-term trends.

With final sales for the year held only last week, Beef Central’s annual summary of the performance of ten major beef breeds’ sales performance published today includes this item focussing on prices paid for bulls, and a second digging a little deeper into the number of bulls sold, clearance rates (where available), and the reasons why.

In total, the ten beef breeds covered in this report account for around 94pc of all bulls sold at auction.

Data on sales Australia-wide is provided for auction sales only – either physical on-property or multi-vendor sales, or online – but does not cover private paddock sales, where statistics are impossible to monitor. Both registered and herd bulls are included. Data was provided in some cases by breed societies themselves, while Beef Central collated numbers in others.

Seasonal, cattle price impact

Clearly, weather remains a big driver of trends in the bull market, with earlier southern Australian sales in Victoria and South Australia suffering most, until the arrival of recent rain. Cattle prices always influence bull buying trends, as evidenced by the sharp drop in young cattle and feeder cattle values around mid-year which was reflected in bulls sale results at the time.

As often happens, the bigger, higher-profile bull breeders generally fared better that smaller and emerging operators this year, in terms of price trends.

Longer-term trends

Looking at the longer-term bull price trend graph over the past 11 years published here, it can be seen that despite some further declines in average price for some breeds, most have still had their third or fourth-best result in history – exceeded only by 2021-23.

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While this report is not intended as a direct breed-to-breed comparison or ‘popularity contest’, it’s worth highlighting some of this year’s achievements.

Wagyu again topped the average price standings for breeds in 2024, averaging $15,353 this year.

Wagyu has only appeared on this list since 2022 (hence the reason it does not appear in the above graph), when there was a sharp increase in the number of bulls sold at auction, rather than the traditional sales method out of the paddock. While this year’s Wagyu average price stands considerably higher than conventional breeds, it’s worth noting that the breed’s average price has fallen more than $8900 in the past two years.

Clearly, supply and demand for Wagyu bulls is now closer to equilibrium. Back in 2022, Wagyu bull breeders faced something of a buyer frenzy – at least partly attributed at the time to the post COVID appetite among worldwide consumers wanting to go out and spend accumulated funds on a seriously good steak or two after being locked away.

While the Australian Wagyu Association does not compile breed-wide records for auction bull sales, Beef Central has compiled data on 15 auction sales held from Central Queensland to southern Victoria this year.

Next highest breed by average price this year was Santa Gertrudis, lifting by $1313 or 12.9pc on last year, to register an average of $11,450. More comments on the Santas’ performance this year in today’s accompanying article.

Charolais also recorded a strong trading year for bulls in 2024, averaging $10,807, up 5pc or $520 on last year, while Angus were next on $10,615 (down 13pc on last year), but achieving the figure on a massive 11,552 bulls sold. Only a decade ago, Angus were often among the cheaper bulls on average being sold in Australia, marking a remarkable change in demand and price expectation since then. Rounding out the top five were Brangus, averaging $10,340 this year, down $229 or 2.2pc on last year.

• Time and available resources limited the scope of this year’s report to the above ten largest beef breeds, each responsible for 663 or more bulls sold at auction. Other breeds wishing to add their 2024 sale results are welcome to use the reader comment facility at the base of this page.
• See companion story Numbers bulls sold at auction for 2024

2025 Autumn bull selling season call to action for studmasters

Bull breeders wishing to promote their Autumn 2025 bull sales via ads on Beef Central’s genetics pages, daily email alert or home page early next year should contact Nikki Nason at nikki@beefcentral.com or phone on 0448 630 047. Ad spaces are already filling up, so we recommend making contact early to avoid disappointment.

Soon after New Year, work will also start on compiling our full list of 2025 Upcoming Autumn 2025 Bull Sales, appearing as a searchable list in Beef Central’s genetics section. We remind studmasters to submit their upcoming autumn sale dates early next year (via this form), if they are not already provided by respective breed societies.

To all our loyal and enthusiastic bull sale advertising clients – many of whom have stuck with Beef Central for a decade or more – we thank you for your ongoing support and wish you, and all readers a Merry Christmas and Happy New Year.

• A number of beef breeds have re-set their record prices for bulls and registered females during 2024. Click this link to access Beef Central’s comprehensive list of breed records.