Cattle market boom pushes Chinchilla grazing land to $2.8 million
Gilgai, a 224-hectare property, sold for $2.8 million (about $12,500/ha) as the Eastern Young Cattle Indicator rose to 991.98c/kg from 906c/kg in September.
A Queensland grazing property near Chinchilla has sold for $2.8 million, reflecting strengthening demand in Australia's cattle market. The 224-hectare Western Downs property attracted five active cattle producers at Nutrien Harcourts' auction on Thursday.
Bidding opened at $1.5 million and climbed in $100,000 lifts before reaching the final price in front of about 70 people. The Meat and Livestock Australia's Eastern Young Cattle Indicator, a key price benchmark, climbed to 991.98c/kg this week, up sharply from 906c/kg at the end of September.
Marketing agent Warren Barker said the strong result was driven by the property's position and soil quality in the sought-after Red Hill district.
- $2.8 million
- Sale price
- 224 hectares
- Property size
- $12,500
- Price per hectare
- 991.98c/kg
- Cattle indicator
Why it mattersGrazing property prices reflect broader strength in the beef market, signalling profitable conditions for cattle producers across Australia.
AustraliaStrengthening cattle prices are improving returns for Queensland and Australian livestock farmers, though high land values make entry harder for new producers.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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