Markets

Wagga 21 March 2016: Rain works its magic

Beef Central, 22/03/2016

Some recent rain has worked its magic on cattle prices at Wagga in a smaller offering of 2,885.

Prices were fuelled by better feedlot and export competition, after good rains across parts Victoria and NSW.

Impressive results were recorded in the vealer run, with many sales of excellent quality European calves selling from 320-334c/kg, while most other British breed’s ranged from 290-320c/kg.

In the trade market bidding was consistently above 305c for the better finished trade steers, with the best steers to slaughter making from 310-317c to average 314c/kg. Trade heifers 400-500kg trended slightly dearer, with buyers lifting rates above 300c/kg for the top pens. Medium weights 400 to 500kg sold from 268-304c/kg.

Helping boost secondary yearling and weaner rates was renewed restocker interest over all light weight categories, following recent rain. The biggest gains were made by Angus steers, when restockers and feedlots pushed prices 7c higher. Steers returning to the paddock topped at 340c/kg to average 337c or $846. Well-bred heifers returning to the paddock sold at 285-301c/kg.

There was a price kick for feeder steers this week when northern and southern feedlots clashed on all pens of well-bred lines. Medium weight steers jumped 8c selling from 290-329c to average 316c/kg. Lighter weights sold to strong bidding lifting 9c to average 321c/kg.

The heifer feeder market sold to solid demand selling at 270-306c/kg.

After some average results in the export market the previous week bullocks, experienced a rate surge of 19c/kg. Bullocks averaged 290c to top at 300c/kg. A fall in supply of better quality younger grown steers 500-600kg saw stronger demand and, rates generally improve 6c, with younger lines consistently making 290-301c/kg.

Other bullocks-including manufacturing types were sold at 245-276c/kg.

A similar line up of 780 cows sold to stronger competition from southern processors. Heavy cows lifted 16c making from 222-246c to average 235c/kg. Leaner grades met strong demand from both northern and southern buyers which resulted in a dearer trend of 9c/kg. The better quality leaner types made from 195-235c/kg.

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