Markets

Wagga sale 25 Sep 2018: Numbers double with dry conditions

Leann Dax, 25/09/2018

Yarding 6130 Change 2870

Wagga market is struggling to find a base rate with increased supplies of plainer secondary cattle.

Numbers almost doubled with 6130 cattle, 2900 more than the previous market. The reason behind the flush of cattle is dry conditions and the looming Labour Day public holiday next Monday.

The quality of the yarding slipped at the lighter end, with producers offloading unfinished stock in varying condition on the back of dry conditions and cheaper prices.

Select lines of well-bred steers 330-400kg are still commanding over 290c despite the cheaper trend of 5c/kg. Medium weight steers 400-500kg slipped 6c making from 245c-304c to average 284c/kg.

The price correction for feeder heifers was more severe under the weight of bigger numbers and reduced competition. Feeder heifers sold up to 30c cheaper to average 244c/kg.

Bidding for trade steers was much weaker with only a few suitable for the trade. The better finished selling from 260-280c/kg. Only top drafts of well finished lighter weight steers attracted increased bidding to record a top price of 284c/kg.

The heifer market was erratic at times, with buyers not willing to lift rates much past 250c/kg as the sale progressed. A domestic processor competed strongly for the top pens, paying up to 299c/kg.  Trade heifers 400-500kg sold 9c cheaper while the lighter trade weights 330-400kg dipped 8c to average 246c/kg.

Weaker demand from processors drove much of the price falls for export cattle, with heavy grown steer and bullock rates dropping 11c-13c/kg. Heavy steers 500-600kg topped at 292c to average 276c/kg. Bullock quality varied causing rates to dip. Younger bullocks made from 265-293c/kg with the main run averaging 282c/kg.

The cow market continued to lack drive under the weight of numbers with agents yarding almost 1400 head. As the sale progressed some buyers were not prepared to push the market.  Heavy cows slipped 10c to average 230c/kg. Leaner grades tracked up to 20c cheaper making from 130-230. Plainer types were more difficult to sell ranging from 70-120c/kg.

To view full NLRS report click here

 

 

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