Markets

Wagga 9 May 2016: Rates lift 10-20c

Leann Dax, 10/05/2016

Widespread rain across the supply area prompted producers to hold stock, causing numbers to drop by almost a third in a smaller yarding of 2,885.

Rain inspired understocked NSW restockers who had the greatest influence over lighter weight categories, lifting rates 10-20c/kg. The better bred lines fetched 298-343c/kg to average $831

Stronger demand from local restockers kept a solid floor in the heifer portion, with rates generally 10c/kg dearer selling at 277-288c/kg.

Bidding from restockers helped push feedlot rates higher as competition for well-bred lines intensified. Lighter weight feeder steers 330-400kg sold 6c dearer to average 321c/kg. Medium weight feeder steers were well supplied and demand remained steady, with rates generally firm to a few cents dearer making from 298-329c/kg

The better trade weight cattle sold to keen competition from domestic processors and select butcher orders, with prices 7c to 11c higher. Medium weight trades steers averaged 314c while the heifer portion sold from 280c to 311c/kg.

The best trade price was 336c/kg recorded for prime milk vealers but such sales were isolated, the bulk of the better milk calves selling from 300c to 334c/kg.

The seasonal shortage of heavy export cattle contributed to solid gains of up to 8c/kg. The better finished heavy grown steers and bullocks made from 290c to 327c/kg.

The cow market continued to climb with prices strengthening 7c- 8c/kg for well finished beef lines. Heavy well finished cows sold from 214c to 239c/kg. It was a different story for plainer grades, with restockers pushing younger lean cow rates higher and securing most of the younger lines. Leaner cows to slaughter lifted 5c reaching a top price of 183c/kg. Store cows jumped 22c selling from 155c to 180.6c/kg.

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