Markets

Wagga sale 16 Oct 2017: Export and domestic processor demand ramps up

Leann Dax, 16/10/2017

Demand strengthened lifting rates considerably higher at Wagga.

The yarding of 4100 was 400 less than the previous week, with rain reducing numbers.

Orders from feedlots and restockers ensured prices pushed considerably higher for all secondary lines, while export and domestic processor demand ramped up notably, on the back of tight supplies. Export prices in general jumped 10c/kg.

Trade prices were boosted by strong competition from domestic processors who clashed against feedlot buyers for a market share of well finished stock. Prices across trade weight categories lifted 7-10c/kg. The best price recorded was 297c for a pen of steers weighing approximately 440kg. The bulk of the trade steers made from 278-294c/kg.

Trade heifer’s prices were not as erratic this week, with the better finished medium weights jumping 10c, selling from 260-288c/kg. Plainer bred heifers to slaughter ranged from 240-255c/kg.

It was more of the same in the export market with producer confidence building as prices spiked 10c for grown steers and bullocks. The better finished steers made from 280-293c/kg.

Feeder steers posted noteworthy gains of 7-10c with plainer bred steers rising 10c/kg. The market was described by agents as strong with feeder steers topping at 296c to average 2849ckg.

Yearling heifers suitable to feed surged 20c and more in places, with the lighter weight heifers 330-400kg making from 260-287c/kg.

Strong support from southern restockers produced stronger competition for plainer lighter weight steers and heifers. Prices hit 344c for steers 200-280kg a lift of 10c/kg. While the light weight heifer portion was very mixed, competition between local and northern restockers was strong too. Pens of heifers 200-280kg sold 30c higher to average 312c/kg.

Another big price mover was the cow market. Heavy cows gained 9-13c topping at 245c to average 230c/kg.

Leaner grades were also a hot ticket item selling 11c dearer. The better lean types ranged from 205-228c/kg.

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