Extremely dry conditions and plainer quality eroded prices in a reduced yarding of 3,200 cattle at Wagga. The market opened weaker on the back of last week’s cheaper trends.
Even with a shortage of export cattle the market lacked competition from major export processors causing the market to slide 12c/kg. The cheaper trend was obvious at the commencement of the sale with only two processors operating fully.
Cattle markets in the past week have been somewhat erratic and Wagga experienced the same fluctuating price trends, depending on quality and competition.
Weaker feedlot competition across all categories was the catalyst for the cheaper trends. Major feedlots from Victoria NSW were operating, but some sporadically preferring well-bred lines of Angus cattle.
Recent rain inspired restockers and feedlots who had the greatest influence over most categories. Weaner steers back to the paddock sold 6-22c/kg dearer. Steers weighing 330-400kg benefited from the strongest demand with store buyers who payed from 332-392c to average $1358.
Even with a shortage of heavy export cattle the market lacked competition for bullocks, with prices wound back 10c/kg to average 316c/kg. Top quality younger lines of heavy grown steers 500 -600kg to slaughter lifted 6c with the grain assisted portion helping drive the market higher. The bulk of the better finished steers sold from 300-338c/kg.
There were weaker results for prices at Wagga in a similar sized yarding of 3700, as dry conditions continue to put supply pressure on the market.
Cattle prices strengthened again following on from the significant price surge the previous week, due to damp conditions and limited supplies at most southern selling centres.
A shortage of stock due to the Easter holiday break lifted rates at Wagga in a yarding of 3,320.
The tight supplies for both domestic and export processors strengthened prices across trade and export categories, with some of the better finished lines showing a hefty price rise.