A lack of buyer support and higher feed grain prices influenced rates in a larger yarding of 3400 at Wagga.
Most categories took a hit of 10-40c depending on condition and weight.
The market struggled to find a base, with cheaper prices trends over most categories. Looking at the bigger picture there were signs at the market that domestic processors and feedlots are not prepared to bid to anywhere near past levels.
This was evident in the feeder steer market, where rates slumped, as feed grain prices creep higher. Demand was weak from all feedlots and prices fell up to 30c/kg. A total of 650 steers weighing 400-500kg were purchased by various feedlots selling to a top of 337c to average $1376c/kg. It was more of the same for lighter weight heifers to feed-on. Fewer buyers caused prices to dip 28c, the better quality lines sold from 255-310c/kg.
The trade cattle sale lacked intensity of the previous week, with rates wound back 10-46c/kg. Trade heifers 400-500kg sold from 255-308c to average 283c/kg. There were limited steers 400-500kg purchased by domestic processors. The pens of prime steers which did sell to the trade made from 278-312c.kg.
Vealers were in reasonable supply but lacked weight and buyer interst of past sales. The better covered fresh calves 330-400kg sold from 290-350c/kg.
Prices varied for export cattle with bullock prices easing 16c to average 282/kg. Heavy steers 500-600kg found buying support from a major feedlot with prices firm to a few cents easier making from 272-310c/kg.
On a positive note, there were some strong sales for light weight well bred steers but generally prices were pulled back 24c/kg. Light weight steers ranged from 260-376c/kg. The heifer portion sold 10c easier selling from 275-329c/kg.
In a line-up of 550 cows not all southern processor operated. Most grades of cows were unchanged to a few cents cheaper. Well finished cows sold from 245-264c/kg. Heavy high yielding beef cows averaged 252c/kg. Leaner grades made from 209-250c/kg.