Wagga sale 15 Aug 2016: Red hot market loses a little heat

Leann Dax, 16/08/2016

Cattle numbers continued to build at Wagga in a much bigger yarding of 3,900.

The red-hot cattle market lost some heat this week, with yearling cattle suitable to feed-on most affected by the cheaper trend.

He highlight on Monday was improved demand and prices for trade cattle with vealer steers to slaughter recording a top price of 401c/kg to average 385c/kg.

Prices for trade cattle were mostly unchanged. The main run of trade heifers 400-500kg averaged 356c with isolated sales hitting 400c/kg. Steers to slaughter were limited as domestic buyers struggled to match feedlot rates. Well finished trade steers topped at 385c to average 364c/kg. The lighter weights were also in short supply making from 386-398c/kg.

Supply pressure seems to be mounting in the industry judging by the higher prices paid for plainer lines. Well-bred steers 200-280kg met with wide-ranging support from two states which resulted in a top price of 436c/kg. Store heifers returning to the paddock were mostly firm making from 350-405c/kg.

Secondary steers 400-500kg wore the brunt of a hefty price correction of 17c/kg to average 368c/kg. The bulk of the offering was purchased by a smaller group of feedlot buyers. There was a similar pattern for the lighter weight steers, with major feedlots not prepared to push rates much past 390c/kg. The main run of light weight steers sold at 340-396c averaging 374c/kg.

A single export processor lead the way in the heavy cattle section, with most buyers subdued when competing for heavy steers 500-600kg. Heavy steers sold 14c cheaper averaging 351c/kg. Bullocks were least affected by the cheaper trend, with plenty of sales touching firm. Bullocks regularly made from 298-368c/kg.

In the cow market rates fluctuated, with one northern processor commencing mid-way through the sale. Heavy cows sold 8c cheaper making from 270-293c/kg. Leaner grades were firm to slightly cheaper in places selling at 242-275c/kg.


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