Markets

Wagga sale 18 June 2018: Marketing hitting winter ceiling

Leann Dax, 20/06/2018

Yarding 3200  Change -300

The cattle market at Wagga is showing signs of having hit its winter price ceiling in a smaller yarding of 3200.

Bidding was generally weaker with restockers backing away from the price heights recorded at the beginning of the month, despite rain across the supply area.

Demand for light weight secondary weaner steers and heifers were erratic with buyers again struggling to find a base rate. While there was one pen of Angus steers that sold for the top rate of 300c to restockers most sales back to the paddock were up to 20c/kg cheaper.  Young weaner steers 280-320kg returning to the paddock made from 234-288c to average 238c/kg or $741.  There were a few less orders in place for store heifers 200-280kg and they sold from 170-244c/kg.

Secondary steers suitable to feed-on sold to a larger group of buyers with a boat order also competing. Light weight steers 330-400kg lifted 19c making from 268-315c averaging 299c/kg. Medium weight steers to feed on were 8c dearer making from 263-313c/kg.

The feeder heifer market met with increased competition from major feedlots and prices were generally 5-10c dearer. Heifers 400-500kg made from 240-288c averaging 273c/kg.

Vealers were limited and prices were similar to a fortnight ago with the better finished veal making from 255-314c/kg. Vealers which lacked finish 280-330kg sold to steady demand from feedlots making from 260-289c/kg.

The limited numbers of well finished trade heifers sold to the usual group of buyers. There were only a handful of heifers that failed to break the 255c/kg mark. Light weight supplementary fed trade heifers 330-400kg gained 15c to average 278c/kg.

The pressure of limited trade supplies and stronger feedlot competition saw medium weight trade steers lift 22c/kg. There were sales throughout the market where prices did lift above 305c/kg.  Grass finished and supplementary fed medium weight steers sold from 292-315c/kg.

Both export and domestic buyer competition was weaker, which was quality related. Heavy steers sold 11c cheaper selling from 245c-282c while bullocks topped at 270c/kg.

The cow market gained traction over all weights and grades. Heavy cows sold 8c dearer to average 207c/kg.  Leaner grades were of plainer quality and prices were generally 8c/kg dearer. The better covered lean cows made from 140-186c/kg.  Ends…..

To read full NLRS market report for this week’s Wagga sale click here

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