Markets

Wagga sale 17 Aug 2015: Prices reflect tightening supplies

Leann Dax, 18/08/2015

General rain across the supply area in the past four weeks has caused numbers to drop significantly, with only 2780 yarded at wagga yesterday, almost 700 less than the previous sale.

The high prices for well-bred secondary stock have motivated producers to offload unfinished yearling and weaner cattle onto the market. Price results this week were steady for secondary types and trade cattle, reflecting the tightening supplies in all centres.

There was higher demand for light weight secondary weaner steers and heifers, with restockers the market drivers. Young weaner steers 280-320kg returning to the paddock made from 310-344c lifting 15c/kg. There were a few more store orders in place for store heifers 280-320kg and they gained 27c, due to stronger demand from both feedlots and restockers to average 296.5c/kg.

Secondary steers suitable to feed-on sold to a small group of buyers with major feedlots attending but not operating. Medium weight steers 400-500kg were unchanged making from 314-343c to average 333.1c/kg.

Vealers were limited and prices were similar to last week’s rates with the better finished calves making from 330-349c/kg. Vealers which lacked finish 280-330kg sold to strong restocker and feedlot competition to average 324c/kg.

The reduced supply of well finished trade heifers pushed prices 4-6c higher. There were only a handful of lighter weight trade heifers that failed to break the 300c/kg mark. Medium weight heifers to slaughter met stronger competition from domestic and export buyers selling from 290c to 345c/kg.

The pressure of tightening trade supplies and steady feedlot competition saw medium weight trade steers unchanged. There were several sales throughout the market where prices rose slightly above 350c/kg. Crop finished and supplementary fed medium weight steers sold from 337-352.6c/kg.

Both export and domestic buyer competition waned, which resulted in a cheaper trend of 6- 7c/kg. Heavy grown steers reached a top price of 361.6c to average 337c/kg. Heavy bullocks made from 314c-326c/kg.

The high point of the export market was heavy grown heifers which reached a top price of 346c/kg for a pen of heifers weighing 507kg, other sales of better shaped younger heifers ranged from 300-340c, lifting 4c/kg.

The cow market lost traction, with sales erratic and, only three processors operating. Heavy cows sold 16c cheaper to average 267c/kg. Leaner grades were of plainer quality and prices were generally 7-12c/kg cheaper. The better covered lean cows made from 235-277c/kg. The bull market jumped 27c with heavy bulls selling from 300-313.2c/kg.

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