Wagga sale 16 Apr 2018: Export prices under pressure

Leann Dax, 17/04/2018

Export processors showed a downward trend on Monday at Wagga in a bigger yarding of 6300.

And with increased store markets in NSW this week it’s difficult to judge just how severe the secondary cattle price decline was based on big numbers of young cattle held over for store markets across the region.

Dry warm conditions are forcing the hands of producers across the Riverina with an influx of lighter weight cattle under 340kg. Plainer store cattle less than 300kg were hardest to sell with prices generally falling 24-40c/kg. Weaner steers sold from 220-294c while the heifer portion made from 144-249c/kg

Lighter weight feeder steers 330-400kg rates are starting to slip below 240c with most steers returning 218-305c/kg. This translated into a cheaper trend of 22c/kg. At the other end of the weight range 400-500kg secondary steer prices were more stable with (NLRS) data showing a cheaper trend of 13c to average 271c/kg.

Meanwhile in the feeder heifer market rates were erratic with plainer bred types severely discounted, while Angus heifers bore the brunt of the cheaper trend well. Feeder heifers in general sold 15-17c cheaper making from 217-267c/kg.

Trade cattle were in shorter supply with many pen lots requiring more finish. The bulk of the trade cattle sold 13c cheaper. Heifers to the trade averaged 246c while trade steers made from 260-294c/kg.

Negative signs are emerging from the export market with beef prices falling in the US in the past fortnight.

Cow prices were affected by the much weaker demand on Monday, when agents offered just over 2,100 cows. Prices for heavy well finished cows fell by 15c according to the National Livestock Reporting Service (NLRS). The other category to show a severe price correction was the middle run of leaner types, which eased by 20c to 30c making from 106-174c/kg.

A similar trend followed for heavy steers 500-600kg with rates dipping 15c/kg. Heavy steers ranged from 240 to 278c, while bullocks topped at 278 to average 264c/kg.

To view the NLRS’s full Wagga market report click here


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