The Eastern Young Cattle Indicator closed last week 14c down week-on-week and the Wodonga market followed suit. The indicator is trending 194.25c/kg below the same time last year and has dropped more than 20.11c/kg in the last month.
Cattle markets in the past week have been somewhat erratic and NVLX Wodonga experienced the same fluctuating price trends, depending on quality and competition. Agents yarded just over 1200 cattle with numbers similar to the previous market.
Cattle prices lost momentum with most categories recording cheaper rates. Weaker feedlot and domestic processor competition across all categories caused a price correction.
The highlight of the sale was the export market which was boosted by stronger demand from Thomas Food International. Bullocks rates lifted 7c making from 272-298c to average 294c/kg. Heavy grown steers 500-600kg benefited from stronger domestic competition which helped underpin values. Heavy steers lifted 4c making from 270-300c/kg.
The volatile market continued this week, as prices varied amongst categories managing a moderate increase in the export run.
Cattle prices continued to ease with bidding from processors, feedlots and restockers at lower levels. Uncertainty appeared to slow store buyer demand which in turn eased the pressure on feedlots and domestic processors over light weight categories.
There were prices falls of 2-4c for trade and export cattle as domestic and export processor demand dropped away from last week’s levels.
Vendors were rewarded when domestic processors became the market drivers for well finished trade and some export cattle in order to secure numbers.
It was a dearer market at NVLX Wodonga for trade cattle. Agents yarded just over 1,100 and quality was generally fair to very good, however there was a tail in the offering across lighter weight categories.
There were some big price improvements for young cattle this week as numbers remained low at 1,146 at NVLX Wodonga.