Markets

Wagga sale 11 May 2015: Price results notably stronger

Leann Dax, 12/05/2015

The price rally after recent rain was maintained at Wagga Wagga. More than 4200 cattle were yarded yesterday as the higher prices drove increased supplies of unfinished cattle onto the market. Price results were notably stronger, reflecting the tightening supplies in all centres.

There was high demand for light weight secondary weaner steers, with feedlots dominating this category. Young weaner steers 280-320kg to feed on made from 242-285c lifting 4c/kg.

The greater price lift was for medium weight feeder steers jumping 10c to average 275.7c/kg. Domestic processors competed strongly against feedlot buyers which aided the dearer trend.

The weaner store sale was very strong lifting 34c to follow in the footsteps of the feeder market, Prices for weaner steers hit 321c for a pen of 34 Angus steers weighing 200kg. Heavier weaner’s steers returning to the paddock were unchanged to a few cents cheaper to average 255c/kg.

Vealer prices improved significantly to hit a record high of 308.6c for a pen of European steers weighing 350kg. There were several sales throughout the market where prices rose above 300c/kg. Overall vealers jumped 12-18c/kg.

The lack of heifer numbers pushed prices 6-11c higher had there was only a handful of heifers that failed to break the 215c mark. Medium weight heifers to slaughter met stronger competition from domestic and export buyers selling from 240c to 290c/kg. Plainer shaped young heifers averaged 225c/kg.

The pressure of tightening trade supplies and strong feedlot competition saw medium weight trade steers surged 18c /kg. The better finished trade steers made from 270c-294c to average 275.7c/kg.

Export and domestic buyers faced off for a market share of the heavy grown steers and bullocks offering, which resulted in a dearer trend of 7c/kg. Heavy grown steers reached a top price of 296c to average 276c/kg. Heavy bullocks made from 232c-278c/kg.

The high point of the export market was heavy grown heifers which reached a top price of 287c/kg for heifers weighing 510kg, other sales of better shaped heifers ranged from 230-286c, lifting 12-19c/kg.

The cow market had the wobbles with not all processors operating easing 5-8c/kg. Heavy cows sold to fluctuating price trends making from 195-222c/kg. Leaner grades ranged from 201c/kg cwt.

 

View full NLRS sale reports from markets around Australia in Beef Central’s markets section

 

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