Markets

Wagga sale 19 March 2018: Price hold gains

Leann Dax, 20/03/2018

Cattle prices at Wagga have mainly held their gains from the previous sale, despite the slight increase in supplies. Agents offered 4750 in a very mixed yarding.

Exporters, domestic processors and feedlots moved to give the bullock market direction with prices firm to 4c dearer.

The dry and patchy season in Victoria and NSW was the reason demand remained strong. While Feedlots in NSW and Queensland pushed heavy steers 500-600kg to feed-on 4c higher. Prices for feed steers topped at 285c to average 280c/kg. Southern domestic processors stepped into the fray to secure their share of heavy steers paying from 250-285c/kg. Heavy bullocks met strong competition from both domestic and export buyers for the 100-day grain fed portion. Rates were mostly unchanged making from 235-286c/kg.

Some of the strongest processor competition was for the limited supply of vealers. The National Live stock reporting Service (NLRS) said vealers over 330kg sold from 290-329c/kg.

Due to the limited supplies of trade steers, rates were distorted with data showing a lift of 9c to average 294c/kg. Trade heifers benefited from strong demand owing to the limited supply of vealers and trade steers. Despite the mixed offering rates were unchanged with the better shapes making from 250-279c/kg.

Price results for weaner cattle back to the paddock tended to be mixed reflecting the varied quality on offer. The better- bred lines of steers selling slightly dearer making from 278-350c/kg.

Feeder steers were well supplied and there were plenty of feed orders to accommodate the numbers. Medium weight feeder steers at times equalled last week’s rates, if they were the correct colour and well bred. The bulk of the medium weights 400-500kg sold from 270-307c/kg.

Feeder heifers have maintained their averages for the 330-400kg weight range, the bulk selling from 250-277c/kg. Heifers less than 330kg met with stronger competition and prices were up to 4c dearer selling from 267-302c/kg.

The red hot cow market lost some heat this week with prices generally slipping 14-19c/kg. Heavy cows sold at 195-218c to average 208c/kg. Leaner grades were hardest hit making from 162-200c/kg.

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