Markets

NVLX Wodonga 17 May 2016: Higher prices draw more supply

Leann Dax, 18/05/2016

The price rally after recent rain was maintained over secondary categories at NVLX Wodonga. More than 1600 cattle were yarded as the higher prices, drove increased supplies of unfinished cattle onto the market.

There was high demand for light weight secondary weaner steers, with feedlots dominating this category. Young weaner steers 330-400kg suitable to feed on made from 306-328c lifting 3c/kg.

The greater price lift was for medium weight feeder steers jumping 6c to average 316c/kg. Domestic processors at times competed strongly against feedlot buyers for the supplementary fed portion which aided the dearer trend.

The limited supplies of well-bred secondary heifers and increased feedlot orders pushed lighter weight heifer rates 11c higher. Sales ranged from 298c to 304c to average 300.5c/kg. A small number of medium weight heifers sold to feedlots making from 290-306c/kg.

Well-bred weaner steers with frame were keenly contested reaching a top of 320c/kg. Surplus lines for crossbred weaner steers and plainer light weight types made their way onto the market which caused rates to slip 12c, with sales generally ranging from 280-290c/kg.

Vealer prices softened 3-8c due to quality dropping away, as traditionally occurs this time of year. Vealers with finish made from 307-335c/kg. Vealers to feed-on sold at 300-324c/kg.

Medium weight heifers were up to 5c cheaper due to the slightly weaker demand and limited supplies of finished stock. Buyers bided strongly for the supplementary fed portion paying from 307-324c/kg. Grass finished heifers sold at 280-305c/kg. Plainer shaped young heifers slipped 8c to averaged 247c/kg.

The pressure of tightening trade supplies and strong feedlot competition saw medium weight trade steers unchanged. The better finished trade steers made from 307c-344c to average 275.7c/kg.

In the export market numbers were limited and quality slipped to the previous market. Heavy grown steers 500-600kg sold 8c cheaper making from 280-315c while heavy bullocks topped at 312c/kg.

Heavy grown heifers lacked competition and prices slipped 13ckg, the better shaped heifers sold from 265-307c/kg.

The cow market lost some traction as not all processors operated, resulting in a cheaper trend of 4c/kg. Heavy cows made from 228-244c/kg. Leaner grades ranged from 185c-233c/kg cwt. Store cows returning to the paddock slipped 4c making from 140-216c/kg. Bull rates were 5-9c cheaper with the better shaped bulls fetching 230-253c/kg.

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