Markets

Wagga 16 Jan 2017: Rates spike 10-26c for various categories

Leann Dax, 17/01/2017

The red-hot cattle market continued to fire this week in a larger yarding of 4,700. Rate spikes of about 10-26c were recorded over various categories.

Looking at the bigger picture feedlot rates lifted, which had a flow on effect over most trade categories. Feedlot buyers were eager to secure most types of cattle however; domestic processors were reluctant to chase the market in early sales. Lighter weight back ground steers jumped 17c making from 353-378c/kg. Feeder steers 330-400kg regularly made from 335c-387c a dearer trend of 7c/kg. Medium weight feeder steers gained 10c selling from 315- to 355c to average 343c/kg.

Heifers suitable to feed on were well supplied and rates strengthened 7c/kg. The bulk of the heifers to feed on sold at 310-368c/kg.

Trade buyers were forced to up the ante for young trade cattle and most sales were 7-14c/kg higher. Medium weight trade steers 400-500kg fetched from 320-348c/kg. The heifer market lacked quality at times but this didn’t deter buyers. Heifers 400-500kg ranged from 285-337c to average 314c/kg..

It was a similar story in the vealer run, with domestic processors struggling to match feedlot prices. European vealers and their crosses to slaughter sold firm to a few cents easier selling from 290-367c/kg.

Prices for bullocks continued to climb as the market reacted to the seasonal shortage. The standout trend was for Angus steers 500-600kg with prices 26c/kg higher reaching a top price of 351c/kg.   Rates were up to 23c dearer for bullocks. These steers attracted strong bidding from only two major processors, with other companies unwilling to bid.

Cow numbers lifted and all weights and grades were represented. Prices were generally 8c to 11c dearer. Heavy cows ranged from 240-268c while the leaner types averaged 244c/kg.

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