Markets

Wagga Sale 8 July: Export rates lift

Leann Dax, 09/07/2019

A shortage of well finished export cattle lifted rates in a bigger sized yarding of 3,100 cattle at Wagga.

A highlight of the sale was the export market when prices stepped- up another 10- 33c/kg. Young heavy steers, bullocks and heifers ignited the bidding with both export and domestic buyers keen to secure numbers. Heavy young steers 500-600 kg consistently made from 300-340c/kg. Bullocks reached a top price of 320c with very few offered.  Meanwhile processors drove the heifer portion 20-33c higher selling at 270c-302c/kg.

In the cow market rates surged for the second week running lifting 14c for higher yielding heavy beef cows. Heavy beef cows made from 239-282c to average 256c/kg. Leaner grades were helped along by strong restocker demand looking to turnout cows. Lean cows made from 170-228c/kg

Supply pressure built for domestic buyers in the trade market, due to the lack of finished stock.  Trade heifers topped at 278 to average 274c/kg.

Trade steers were limited and lacked quality of previous sales. The few better finished steers sold from 300-334c/kg.

Meanwhile rain across the supply area inspired restockers over all light weight categories. The spike in competition lifted rates 25c with the well-bred lines making from 250-320c/kg. The heifer portion bounced 14c topping at 252c/kg.

Feeder steer competition picked up pace and prices for medium weight steers 400-500kg lifted 9c selling from 298-333c/kg. Lighter feeders steer rates were helped along by robust competition from restockers lifting rates up by 4c making from 285-328c/kg.

A reduction in supply of feeder heifers and more competition resulted in a gain of 3-10c/kg. Feed heifers sold from 250-309c/kg.

To view full NLRS report click here

 

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