Markets

Wagga sale 28 May 2019: Prices gain traction

Leann Dax, 28/05/2019

Yarding 2600 Change 365

Cattle prices gained some traction at Wagga posting back-to-back price increases. Agents yarded 2600 cattle, 350 more the previous market.

Despite the lift in the supply of secondary stock most major feedlot buyers were intent on purchasing the bulk of the well-bred lines.  Agents said demand from feeders and several restockers gave the market an edge.

Store orders were plentiful and prices were good for plainer conditioned stock. But even taking the lighter weight weaners into account, it still had onlookers ranking it a solid sale  Prices for better quality pens of Angus steers  200-280kg lifted 10c regularly making from 250-302c to average $679 per head. The one downward trend was the heifer portion, with prices going off the boil as the sale progressed. Light weight heifers sold from 140-245c/kg.

Feed lot buyers were the market drivers across all categories of weaners and yearlings, with prices for light and medium weight secondary steers gaining 2-4c/kg. Light weight weight steers to feed on 330-400kg made from 250-310c/kg. The heifer market was exciting with light weight well-bred heifers suitable to feed on lifting 24c fetching 230-292c/kg.

Quality and stronger feedlot competition played a role in the robust results for trade yearlings. There were limited supplies of trade steers topping at 310c to average 306c/kg. The medium weight heifers to slaughter jumped 17c making from 260c-285c/kg.

The highlight of the day was a run of bullocks weighing just over 600kg reaching a top price of 309c/kg. The better shaped bullocks showed a dearer trend of 11c to average 304c/kg. Heavy steer quality was excellent and was reflected in the significantly dearer trends selling from 270-312c/kg.

The Cow market set a solid pace with prices 3c/kg higher. Heavy cows sold from 208-233c/kg. Leaner grades were unchanged to a few cents dearer making from 135-204c/kg.

 

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