Markets

Wagga sale 16 Mar 2015: Dry conditions increase supply pressure

Leann Dax, 17/03/2015

There were mixed results for prices as the dry and hot conditions continue to put supply pressure on the market.

Young secondary cattle returning to the paddock generally experienced a further 8c/kg price correction at Wagga on Monday when agents penned just over 4800 head.

Plainer cattle bore the brunt of the cheaper trend with buyers discounting mixed breeds up to 21c/kg. Well-bred steers 280 to 320kg sold from 193c to 246c to average 228.6c/kg, the equivalent of $672/head. Light weight straight bred weaner steers 200-280kg were in short supply and they made from 239c to 257c/kg. Very plain-quality heifers sold down to 142c, while the better conditioned heifers returning to the paddock ranged from 184c to 213c/kg. Store buyers were from Young, Cootamundra, Yass and the local area.

The feeder steer market showed solid resilience, to any downside last week, but still eased back a few cents a kilogram. Demand for quality steers and heifers were evident with prices touching firm throughout the sale. A total of 700 steers weighing 400-500kg purchased by various feedlots sold to a top of $1196 and averaged $1025. Medium weight heifers to feed on were in shorter supply selling from 194c to 228c/kg.

On a positive note, most of the better trade weight cattle sold to keen competition from domestic processors and select butcher orders, with prices 2c to 5c higher. Medium weight trades steers averaged 233.9c while the heifer portion sold from 204c to 234c/kg.

The best trade price was 248c/kg recorded for prime milk vealers but such sales were isolated, the bulk of the better milk calves selling from 225c to 242c/kg.

Export cattle were keenly sought and made solid gains of up to 15c/kg. The better finished heavy grown steers and bullocks made from 220c to 240.2c with bullocks over 600kg averaging 232.7c/kg.

The cow market continued to tread water with prices softening 3c to 4c/kg for well finished beef lines. Heavy well finished cows sold from 170c to 185c/kg. It was a different story for leaner grades with large lines of Hereford cows pregnancy tested in calf igniting bidding, from both restockers and processors. Leaner cows to slaughter lifted 5c reaching a top price of 183c/kg. Store cows jumped 22c selling from 155c to 180.6c/kg.

 

View full NLRS sale reports from markets around Australia in Beef Central’s markets section

HAVE YOUR SAY

Your email address will not be published.

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Beef Central's news headlines emailed to you -
FREE!