Markets

Wagga sale 11 Apr 2016: Prices ease in 4900 head yarding

Leann Dax, 12/04/2016

Numbers climbed higher at Wagga, with agents penning more than 4,900 cattle.

Secondary cattle prices lost momentum with several categories recording cheaper rates. Weaker feedlot competition across all categories caused a price correction. Not all major feedlots from Victoria, Queensland or NSW were operating, however due to the lower prices some feedlots commenced buying late in the sale

Reasonable numbers of lighter weight steers hit the sale this week with vendors keen to sell at the higher prices received the previous sale. Light weight 280-320kg steers suitable to feed-on slipped 10c making from 271c to 312c/kg. Well-bred yearlings were commanding an average price of 300c for the 330-400kg weight range; however price were back 15c/kg. The medium weight portion 400-500kg was generally 12c/kg cheaper, with the better bred pens making from 280c to 318c/kg.

Splitter calves held their value best with buyers paying up to 358c for steers less than 200kg. At the good end were the top drafts of heavier heifer calves, which sold to the restockers from 301-352c/kg.

The increase in supplies of cattle suitable for the trade at all selling centres saw prices slip significantly. The plainer yearlings wore the brunt of a cheaper trend, with some trade buyers only operating on the top quality pens. Medium weight trades steers sold 20c cheaper to average 300c/kg. Trade heifers weighing over 400kg lacked the competition of major feedlots causing prices to drop 15c most of the better quality pens made from 274-298c/kg.

The best of the vealer sold to 329c with buyers keen to secure fresh high yielding pens. The bulk of the vealers lacked finish and sold to steady feedlot and restocker competition. Lighter weight vealers to slaughter failed to attract buyers and prices dipped by 8c/kg.

Prices for bullocks slipped due to the lack of quality young pen lots and weaker demand. Competition weakened as the market progressed with heavy steers 500-600kg selling 13c cheaper. The better finished pens sold from 270-298c/kg. The market for heavy bullocks fluctuated due to the limited numbers and plainer quality. The National Live Stock Reporting Service (NLRS) said bullock prices were unchanged to average 288c/kg.

Cow numbers increased and quality dipped with a significant portion lacking yield. Generally the market slipped 19-23c/kg. Heavy cows ranged from 204-236c while the leaner trade types averaged 198c/kg

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