Markets

Wagga sale 18 Jan 2016: Some heat goes after red-hot opening

Leann Dax, 19/01/2016

The red-hot cattle market did lose some heat this week in a larger yarding of 5,377 cattle at Wagga. Price corrections of about 8-17c were recorded over various categories ending the stellar run of recent gains.

Looking at the bigger picture feedlot rates were wound back last week, which had a flow on effect when the market opened. Buyers were still keen to secure secondary cattle, but did not want to push prices past 321c/kg. Lighter weight steers 330-400kg regularly made from 290c-321c a cheaper trend of 17c/kg. Medium weight steers slipped 11c selling from 285- to 321c to average 311c/kg.

Heifers suitable to feed on were well supplied and rates fluctuated as the sale progressed selling 13-16c/kg cheaper. Most weight rangers made from 270-304c/kg. Heifers weighing 400-500kg suitable to feed-on averaged 291c/kg.

Bidding for young trade cattle was more stable although most sales were cheaper. Medium weight trade steers 400-500kg fetched from 275-300c/kg to remain firm. The heifer market lacked the quality of the previous sale and processor demand, with prices slipping 13c/kg. Heifers 400-500kg ranged from 260-292ckg.

It was a similar story in the vealer run, with domestic processors demand fading, which aided the softer demand. European vealers and their crosses sold 3-5c cheaper selling from 288-323c/kg.

Prices for bullocks slipped 5c due to the lack of competition from export and domestic processors. Heavy steers 500-600kg sold 5c cheaper selling at 260-292c/kg. The market for heavy bullocks sold to solid demand due to lack of numbers, making from 266-288c/kg

Cow numbers were steady and all weights and grades were represented. Prices were generally unchanged to a few cents dearer in places. Heavy cows ranged from 210-238c while the leaner types averaged 193c/kg.

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