Markets

Wagga sale 18 May 2015: Numbers jump, prices lift 6-11c/kg

Leann Dax, 19/05/2015

On the back of higher prices the previous week numbers jumped by more than 600 head to total 4900 at Wagga Wagga yesterday.

Once again the shortage of domestic and export cattle gave the market greater momentum with prices improving by as much as 6c-11c/kg. Most of the secondary lines were purchased by the main feedlots from Victoria NSW and Queensland.

Plainer quality cattle and strong feedlot competition is driving much of the trade price increase. The limited supplies of well finished cattle continue to set alight bidding amongst domestic processors with yearling steers and heifers to slaughter selling 7c to 11c higher. Medium weight trade heifers supplementary fed for 70 days topped at 193c/kg. The limited supplies of trade steers sold from 280c to 296c/kg. The mixed prices for plainer cattle meant overall secondary cattle to the trade averaged 223.5c similar to last week.

Vealers were in limited numbers and the better finished pens were 7c-9c dearer selling from 285c-309c/kg.

Secondary light weight steers enjoyed strong bidding support from feedlots and repeat buyers wanting steers and heifers with enough weight and quality. Consistent prices of 280-307c/kg for steers weighing 280-320 kg meant feedlot prices were generally 10c/kg higher. Medium weight steers to feed on were keenly sought by a large group of feedlot operators. Buyers paid premium rates for well-bred black steers with the well-bred lines making from 280-307.6c lifting a 16c/kg.

Strong restocker and lot feeder competition pushed weaner and yearling heifer prices to 281c/kg. About 1300 heifers were yarded in expectation of dearer prices; lot feeders such as Thomas Food International were underpinned by restockers who paid 228c to 269c/kg.

Heavy grown steers and bullocks were in limited supply and quality slipped noticeably to previous weeks. Heavy steers found some traction of the better finished milk ant two teeth pens selling 7c higher to average 283.2c/kg. Heavy bullocks sold 5c cheaper averaging 264c/kg.

There were more than 1100 cows penned and quality slipped with many lines lacking yield. Most buyers over looked the plainer offering with prices 2-5c higher. Heavy beef cows made from 190c-238c, while leaner grades sold from 172-218c/kg.

View full NLRS sale reports from markets around Australia in Beef Central’s markets section

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