Markets

Wagga sale 27 Sep 2021: Shortage of stock fuels cattle rise

Leann Dax, 28/09/2021

Yarding 2350 Change -5

A shortage of stock fuels a price rise at Wagga in a similar sized yarding of 2350 head.

The shortage of secondary steers and heifers is evident and its unknown where prices will go next before the Christmas holiday break.

On Monday the eastern states feeder cattle indicator reached 1031c up a massive 126.9c year-on-year. for feeder steers

Agents believe the  high prices at Wagga in the Riverina are driven by NSW . Another factor driving demand is the magnificent spring break across most of the eastern seaboard.

This week at Wagga feeder steers jumped 10c lighter weights recorded a top price of  634c/kg to average 594c/kg.

Medium weight steers were a hot ticket item with all buyers bidding strongly  paying from  sold from 525 to 589c to average 567c/kg.

Feeder heifers were in limited supply with most weighing above 500kg. The bulk of the light and medium weights surged ahead 30c/kg, with 400-500kg topping at 555c to average 539c/kg.

Restockers pushed hard against feedlots in the weight range of 330-400kg.. Well-bred steers sold  from 555c to 638c/kg.

Trade heifers met robust domestic processor competition and feedlot demand. Prices for suitable slaughter stock sold 14c dearer making from 445-535c/kg.

Trade steers sold to similar rates selling from 530c-555c/kg.

Prices drew out some top-quality heavy steers, with Coles paying a premium for the younger pen lots.  Prices ranged from 460c to 521/kg.

Bullocks were well supplied, and prices were 18c dearer making from 460-510c/kg.

In the cow run tight bidding for the best heavy cows resulted in a spread of just 388-415c/kg.

To view full NLRS report click here

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