Markets

NVLX Wodonga 21 June 2016: Solid restocker competition drives market

Leann Dax, 22/06/2016

Solid NSW and Victorian restocker competition underpinned demand for weaner steers at NVLX Wodonga.

Agents offered 1,135 cattle, with a fair percentage of the offering more suited to lot feeding and restocking. Feedlot competition was the market drivers on the better finished lines of heavier trade steers, forcing domestic processors to up the ante to acquire supplies.

A highlight of the sale was a step up in demand for well-bred weaner steers carrying frame which caused bidding to intensify, as restockers and backgrounders battled for a market share. Well-bred steers returning to the paddock 200-280kg lifted 33c/kg. The general run made from 335c-386c averaging $992/head.

Vealers gained traction again this week, as processors scrabbled to find adequate numbers. European veal were paid premium prices selling at 332-361c to average $1332 per head.

Trade steers posted back to back price gains, with the supplementary fed portion igniting the bidding. Rates were 10c higher recording a top price of 358c to average 342c/kg.

Heifer market was another highlight with prices surging 16c/kg after a couple of weeks stuck in a holding pattern. Medium weight heifers fetched 303-352c/kg.

The majority of yearling cattle weighing above 400kg were purchased by northern feedlots with well-bred lines of Angus steers receiving premium prices. Feeder and processors Teys, was the strongest participant at the market for secondary steers paying to a top price of 360c, while the bulk of the offering fetched 320-358c/kg.

Secondary heifers suitable to feed on met with solid competition from a smaller band of buyers lifting 16c/kg to average 322c/kg.

The better finished steers 500 to 600kg sold 11c dearer reaching a top price of 358c/kg. A northern feedlot buyers chasing quality young heavy grown steers to feed on averaged 314c/kg. Bullocks were in short and quality dipped to the previous sale to average 315.4c/kg.

Demand ramped up, with some exciting price gains in the cow market. Rates lifted 15c to 27c for heavy well finished beef cows to sell at 272c-288c/kg. Stronger competition across leaner grades saw prices almost equal the best of the heavy lines. Lean cows sold from 245-287c/kg. A lack of beef cows drove the dairy portion 17-27c higher to reach a top price of 268.2c/kg

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