A New South Wales Angus bull has sold for $420,000 AUD ($521,000 NZD), an Australian record.

Australian rural correspondent Libby Price says livestock values are running hot across the Tasman.

“Cattle prices are great and sheep prices even better,” she says.

First-cross breeding ewes sold at West Wyalong in New South Wales for $620 a head last week, with a shortage lifting demand.

She says the season is running unevenly, with Victoria heading for bumper crops while country north of Dubbo heads into drought.

“We’re having a fabulous season in Victoria,” she says.

“Whereas up north, El Niño has got a hold.”

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.