Store cattle continued to attract premium rates on the back of rain and the prediction of more this week, but bidding for trade cattle became more selective as pressure mounts with increased supplies at southern markets.
There were some exciting price gains recorded in the trade market as all domestic processors were keen to secure a market share. Price surges of another 7-12c were achieved.
Trade prices lifted as buyers were more intent on competing for a market share on all the better finished lines. Young cattle suitable for the trade generally experienced a 2-6c rise, although there were times where plainer conditioned stock struggled to attract all buyers
Trade prices lifted as more buyers were intent on competing for a market share on all the better finished lines. Young steers suitable for the trade generally experienced a 7c rise, although there were times where plainer conditioned stock struggled to attract solid competition.
Rain has buoyed the cattle market by reducing numbers an invigorating demand from processors feedlots and restockers
Rain and the Labour Day holiday in NSW reduced supplies, with nearly all classes of stock quoted dearer thanks to a mix of stronger processor and feedlot demand combined, with a shortage of cattle.
The market showed mixed price trends, with some young cattle to the processors dearer.
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.