Markets

Wagga sale 10 Nov 2015: Store heifers to 361.2c/kg

Leann Dax, 10/11/2015

Drenching rains across the supply area didn’t deter producers from offloading stock, with numbers lifting to 4,100 at Wagga yesterday. Cattle prices tracked at much dearer levels over all categories.

The highlight of the sale was store heifers 200-280kg which reached a record high of 361.2c/kg. The surge in prices for secondary cattle meant store heifer rates jumped 70c to the previous market, to average 349c/kg or the equivalent of $903.

Store buyers said well-bred lightweight secondary steers were virtually not procurable at the dearer rates, with buyers throwing caution to the wind paying from 320-352c/kg. Light weight steers under 200kg were keenly sought by a large field of buyers and prices reached a top of 384.2c to average 352c/kg.

Rain across the supply area and in the north fuelled feeder steer prices in all weight ranges. Generally feeder steers sold 14-20c dearer. Feeder steers 330-400kg ignited the bidding, with restockers also entering the fray pushing prices 20c higher. Angus steers were paid premium prices reaching a top price of 350c to average 319c/kg. Medium weight feeder steers regularly made from 300-329c to average 320c/kg.

Meanwhile the feeder heifer market bounced with a major feedlot order from Queensland lifting rates 18c for heifers 330-400kg. As the market progressed heifer prices continued to rise reaching a top of 318c to average 302c/kg.

Robust demand from feedlots pushed trade prices up 9-15c/kg. Trade steers 400-500kg reached a top of 320c to average 315c/kg. Trade heifer prices continued to come under persistent pressure from feedlot buyers which resulted in a dearer trend of 9c/kg. The better finished trade heifers sold from 280-318c/kg.

Grown steers and bullocks were in reasonable numbers and quality was very good. Buyers paid up to 325c for young Angus steers 500-600kg which contributed to a dearer trend of 11c/kg. Competition between some domestic processors and exporters saw the bulk of the better quality bullocks make from 290-324.2c/kg.

Looking at the bigger picture in the cow market there were signs that export processors are prepared to push the market higher, due to diminishing numbers in northern markets. High yielding beef cows jumped a further 12c to average 262c/kg. Leaner cows were keenly sought by northern processors which resulted in prices surging 18c making from 232-262c/kg.

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