Markets

Wagga 15 Feb 2016: Numbers dip but price run continues

Leann Dax, 16/02/2016

At wagga on Monday numbers dipped slightly, with fewer than 3900 penned.

Cattle prices continued their excellent run, gaining another 10-20c/kg; nearly all classes were quoted dearer by the National Livestock reporting Service (NLRS).

Young vealers and yearlings were pushed along by back grounders and restockers, while slaughter cattle varied according to quality and fluctuated from firm to 12c dearer at the top end.

Restocker demand had the greatest influence on secondary vealers which lifted prices 10-20c higher. Understocked northern farmers and back grounders paid to a top of 378c for light weight vealers, with other most sales averaging 343c/kg.

Steers suitable to feed-on commanded premium prices and rates jumped 8c pushed along by Queensland and northern NSW feedlots. Buyers paid from 294-339c, with medium weight feeder steers averaging 325c/kg.

In the feeder heifer market buoyant competition jumped rates 10c, with northern feedlot demand creating the dearer trend. Well bed heifers to feed on regularly fetched 288-310c to average 302c/kg.

There were limited supplies of steers suitable for the trade which caused spirited bidding as buyers struggled to find numbers. Medium weight steers lifted 12c making from 296-322c/kg.

All domestic buyers shifted their attention to yearling heifers and prices increased 5c, with Angus heifers 400-500kg experiencing the keenest competition. The better finished heifers to slaughter sold at 280-309.2c/kg.

Price trends were mixed in the export market, when heavy grown steers sold to fluctuating price trends, due to stronger feedlot demand. Domestic processors paid up to 5c more, with the young milk and two teeth steers selling from 280-300c/kg. A major export processors keenly contested Angus bullocks 600-700kg paying to a top price of 313c/kg. Overall prices for bullocks sold 11c higher to average 289c/kg.

Cow prices firmed, with heavy cows selling 6c dearer making from 226-249c/kg. Northern processors helped boost rates for leaner types, lifting rates 10c/kg. Leaner cows made from 206c-244c/kg.

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