Markets

Wagga sale 18 Apr 2016: Tightening supplies push market higher

Leann Dax, 19/04/2016

Tightening supplies at Wagga pushed the market higher in a reduced offering of 3,995.

Limited numbers of well finished stock impacted on prices with, most types of export and domestic cattle recording dearer trends. Cattle to the processors generally gained 5-10c/kg.

Trade cattle were a highlight, with southern processors pushing rates higher due to drought conditions in Victoria. Well finished vealers were rewarded, with price rises of 10c, but secondary types returning to the paddock were up to 12c cheaper.

There was a noticeable step up in demand for heavy export steers and heifers. Bidding intensified for heavy grown heifers over 500kg and a top price 297c/kg was reached for a pen Angus heifers weighing approximately 530kg. Most of the better shaped heifers sold 18c dearer to average 291c/kg.

Strong prices were reflected through the heavy grown steer and bullock market also. Heavy grown steers sold to firming rates, while bullocks jumped 18c/kg. Prices were distorted due to the lack of numbers, with bullocks fetching from 292-310c to average 306c/kg.

Young cattle suitable for the trade experienced a lift of 5-13c/kg with southern domestic processors, feed lots buyers and major export companies, displaying a more active approach for the medium weight lines.

Medium weight heifers recorded price gains of 5c to sell slightly lower than steers, prices topped at 314c to average 291c/kg. Medium weight steers sold to a stronger trend with prices generally 13/ckg higher. Medium weight steers to slaughter ranged from 302c-321c averaging 312c/kg.

Competition between a major Queensland feedlot and local feeder buyers ramped up rates considerably and, prices continued to strengthen as the market progressed. The most obvious lift in values was for feeder steers weighing 400-500kg with prices 8c higher. The better bred lines made from 305-329c/kg. The market for lighter feeder steers was stronger. Well-bred Angus Steers with frame and condition were keenly sought reaching a top price of 325c to average 311c a lift of 4c/kg.

 

Cow prices were generally weaker amid reports of softening prices for grinding beef in the US. Heavy cows dipped 9c selling from 198c to 232c to average the equivalent of $1,276.00. Leaner grades sold to fluctuating price trends selling from 170c to 215c/kg. Young light weight store cows with plenty of frame sold from 165c-198c/kg.

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