Wagga 4 Sep 2017: Weaker price trends as yarding doubles

Leann Dax, 05/09/2017

Cattle markets in the past week have continued to soften and Wagga continues to experience the same weaker price trends, depending on quality and competition. Numbers more than doubled, with 4800 cattle, 2700 more than the previous market.

The quality of the yarding slipped, with producers offloading unfinished stock in varying condition on the back of dry conditions and cheaper prices.

Select lines of well-bred steers 330-400kg are still commanding over 320c despite the cheaper trend of 2-5c/kg. Medium weight steers 400-500kg made from 280c-310c to average 303c/kg.

The price correction for feeder heifers was more severe under the weight of bigger numbers and reduced competition. Feeder heifers sold up to 9c cheaper to average 273c/kg.

Bidding for trade steers was much weaker and only top drafts of well finished steers attracted increased bidding. Prices were generally 15c cheaper, with 400-500kg steers topping at 309c to average 288c/kg.

The heifer market was erratic at times, with buyers not willing to lift rates much past 290c/kg. A major domestic processor competed strongly for the top pens, paying up to 300c/kg. Trade heifers 400-500kg sold 6c cheaper while the lighter trade weights 330-400kg were unchanged to 2c dearer.

Weaker demand from processors drove much of the price falls for export cattle, with heavy grown steer and bullock rates dropping 8c-10c/kg. Heavy steers 500-600kg topped at 290c to average 285c/kg. Bullock quality varied and aged bullocks were discounted causing rates to slump. Younger bullocks made from 280-292c/kg with the main run averaging 285c/kg.

The cow market continued to lack drive under the weight of numbers and weaker demand. Not all buyers were operating fully. Heavy cows slipped 8c to average 239c/kg. The better leaner grades made from 200-238. Plainer types were more difficult to sell ranging from 162-195c/kg.


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