Markets

Wagga sale 16 Feb 2015: Solid demand for weaners

Leann Dax, 17/02/2015

Solid NSW and Victorian restocker competition underpinned demand for weaner steers and heifers at Wagga Wagga on Monday.

Agents offered 5295 cattle with the bulk of the offering more suited to lot feeding and restocking. Feedlot competition was the market driver on the better finished lines of heavier cattle, while domestic processors struggled to acquire supplies owing to the higher prices.

A highlight was a step up in demand for well-bred weaner steers carrying weight and frame which caused bidding to intensify, as restockers and backgrounders battled for a market share. Well-bred weaner steers returning to the paddock 280-330kg made from 230c-259c averaging $725/head. Competition for this category heated up with a southern feedlots paying from 218c-255c/kg.

The majority of yearling cattle weighing above 400kg were purchased by northern and southern feedlots with well-bred lines of Angus steers receiving premium prices. Feeder/processors Teys and Thomas food international were strong participants at the market for well finished export stock helping cement a floor in export prices, while other major processors were absent from the market.

The better finished steers 500 to 600kg sold 8c cheaper reaching a top price of 240c/kg. Northern feedlot buyers chasing quality young heavy grown steers to feed on averaged 238.4c easing 3c/kg. Bullocks were in short supply and sold 12c heaper selling from 205c to 230c/kg. Heavy heifers over 500kg made from 188c-227c/kg.

Medium weight Angus heifers suitable to feed on met with steady competition however, price eased 2c/kg. Hereford heifers were generally well supplied but did not meet as strong demand from feedlot buyers. Opportunity buyers were out in force for plainer light weight heifers to return to the paddock and heifers weighing 280-320kg averaged 212c/kg, while their lighter weight sisters ranged from 198c to 222c/kg.

Demand was not as enthusiastic in the cow market with prices softening 5c to 6c/kg. Heavy well finished beef cows made from 186c-202c/kg. Stronger competition across leaner grades helped underpinned the market with leaner cows selling from 155c-186c/kg. A handful of store orders were in place for leaner young cows and price generally ranged from 140c-180c/kg.

To view the latest NLRS sale reports from key markets around the country, visit Beef Central’s markets section here

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