Markets

Wagga 24 Oct 2016: 10c correction in young cattle market

Leann Dax, 25/10/2016

Cattle prices fell again at Wagga in a smaller yarding of 3,800 as better finished cattle and subdued bidding continue to put pressure on markets.

Young cattle quality was very good and experienced another 10c price correction, with over conditioned heifers discounted.

Prices averages for trade steers were affected by the much weaker demand from southern processors. Yearling steers sold from 336-389c to average 349c/kg. Yearling heifer suitable for the trade was unchanged making 290c-388c/kg. Plainer shaped heifers not meeting specifications averaged 278c/kg.

The good quality supply of vealers sold up 5-10c, cheaper, with the better finished vealers fetching 340-396c with an isolated sale to 406c/kg.

The feeder market lacked competition from major feedlots, which resulted in a cheaper trend of 10-15c/kg. Well-bred steers 400-500kg made from 310-372c while the lighter weights sold from 320c-380c to average 353c/kg.

It was more of the same for the heifer portion, with very few major feedlots operating. Heifers 330-400kg sold 9c lower to average 336c/kg

Restocker demand had the greatest influence on lighter weight secondary cattle. The market benefited from a depth of orders and increased producer confidence. Steers 280-320kg topped at 418c to average 385c or $1167 per head

Grown steers and bullocks prices again fell due to weaker demand from processors and feedlots. Bullocks were back 7c while grown steers 500-600kg sold 8c cheaper averaging 320c/kg.

In a bigger line up of cows and the inclusion of two extra processors the market still lost momentum. Heavy cow rates dropped 22c to average 246c/kg. Leaner grades lost 13c making 218-253c/kg.

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