Markets

Wagga sale 1 Aug 2-16: Feedlot demand drives market

Leann Dax, 02/08/2016

The rising trend held at Wagga On Monday in a bigger yarding of 3,500. Quality continues to be mixed with the bulk of the offering yearlings and weaners in secondary condition.

Feedlot demand had the greatest influence on the market, with buyers keen to operate over all classes.

Light weight weaner cattle benefited from strong restocker competition and posted dearer rates of up to 10c topping at 414c/kg for light weight Angus steers.

The bidding from feedlots helped push trade steers rates 20c higher with the best slaughter steers topping at 389c to average 374c/kg. Competition intensified for trade heifers as feedlots and several domestic processors pressured prices over well-bred drafts. The main drafts of trade heifers 400-500kg gained 10c making 330-380c/kg.

Dearer trends of up to 9c were achieved for feeder steers with most major feedlots active. The bulk of the feeder steers 400-500kg sold at 340-390c to average 374c/kg.

Feeder heifers were in demand from both feedlots and domestic processors and these rose a few cents. Most sales over all weight ranges sold at 330-369c/kg.

The best quality lines of heavy steers 500-600kg sold firm to a few cents dearer making from 330-374c/kg. Bullocks were limited and prices were mostly unchanged reaching a top of 367c/kg.

On the export front the cow market was noticeably stronger, with heavy cows selling 7c dearer to top at 290c/kg. Leaner grades also found solid support from southern and northern processors making from 230-282c/kg.

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