Markets

Wagga sale 16 May 2016: Bigger numbers impact market

Leann Dax, 17/05/2016

Wagga Wagga cattle numbers increased by 1900 to 4,724 head and the bigger numbers did impact the market over some categories.

Store cattle prices strengthened again following on from the significant price surge the previous week, due to stronger competition from Northern NSW restockers.

The higher prices offered last week, caused a host of plainer conditioned weaners and yearlings to enter the market regardless of the favourable autumn conditions. The plainer selection did effect processors competition but provided feedlot companies and restockers with more choice.

This was evident over lighter weight classes with the bulk of the weaner cattle prices underpinned by stronger restocker demand. Steers suitable to feed on were unchanged to a few cents cheaper. Well-bred young steers 330-400kg made from 290c-340c to average 319c/kg. The medium weight steers portion fetched 295c to 331c/kg.

Prices for feeder heifers were unchanged to 4c dearer, given the restricted numbers suitable for feedlots. Medium weight heifers to feed on sold from 289c-295c/kg. There were greater numbers of lighter weight heifers to feed on and they made from 283c-308c/kg.

Numerous store orders pushed rates higher on well-bred lines, while bidding was more selective for crossbred types. Store steers were generally unchanged to a few cents dearer. Steers returning to the paddock 200-280kg which lacked conditioned and frame ranged from 304c-350c/kg to average $828. There was a price variance based on breed and condition for store heifers and rates varied from 280-330c/kg, for the 200-280kg portion.

Bidding for medium weight trade steers intensified as domestic processors battled against each other to acquire adequate supplies. After some price spikes, medium weight steers topped at 340c to average 318c/kg. The heifer portion lacked the quality of past weeks and prices slipped 5c, with the better finished lines making from 280c-314c/kg.

Vealer quantity dropped away, as traditionally occurs this time and year which pushed rates 8c higher for the better finished types. Vealers with finish reach a top price of 334c/kg.

The seasonal shortage of export cattle was reflected in the bullock prices with the better quality pens selling firm making from 289c-314c/kg. Heavy grown steers 500-600kg was keenly contested by southern and local export processors which cemented a floor in rates, however prices did ease 4c/kg to average 300.8c/kg. Heavy heifer prices weakened with the better shaped pens selling from 260c-292c/kg.

Cow rates remained in a holding pattern, with prices unchanged for higher yielding lines. Heavy cows made from 212-239c, while good clean lean cows sold from 190c-244c/kg. Store cows were plentiful and keenly contested by southern Riverina restockers, with young cows selling at 180-224c/kg.

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