Orders from feedlots and restockers ensured prices pushed considerably higher for all secondary lines, while export and domestic processor demand ramped up notably, on the back of tight supplies. Export prices in general jumped 10c/kg.
Wagga agents mustered just over 4600 cattle after last week’s Labour Day holiday Monday. The market generally posted a rally of 10c/kg across most categories.
Secondary cattle prices lost momentum with several categories recording cheaper rates. Weaker feedlot competition across lighter weight categories caused a notable drop in rates. Not all major feedlots were operating, however due to the price levels some feedlots commenced buying midway into the sale
In a similar sized yarding cattle prices continued to ease with bidding from buyers at much lower levels across export and domestic categories.
Prices varied amongst categories with secondary cattle bearing the brunt of a price correction.
Cattle markets in the past week have continued to soften and Wagga continues to experience the same weaker price trends, depending on quality and competition. Numbers more than doubled, with 4800 cattle, 2700 more than the previous market.
In a bigger yarding at NVLX Wodonga rates continued to show weaker trends over most classes. The one highlight of the sale was vealers where well finished calves spurred most domestic buyers which lifted prices notably.
Prices continued to fluctuate in a bigger yarding at Wagga as the market struggled to find a base amid mixed quality, seasonal variations and volatile grain prices.
The dearer trend was obvious at the commencement of the sale with top quality younger lines of heavy grown steers 500 -600kg in limited supply. Amongst the offering was a B-Double load of 100 day grain fed bullocks which ignited the bidding to record a top price of 303c to average 291c/kg.
Trade prices lifted as buyers were more committed on competing for a market share on all the better finished lines. Young cattle suitable for the trade generally experienced a 10-12c rise, although there were times where plainer conditioned stock struggled to attract buyers.