Markets

Wagga sale 2 May 2016: Buyers active after widespread rain

Leann Dax, 03/05/2016

Widespread rain did little deter producers, with numbers lifting significantly to 4,395 and was mostly made up of secondary yearlings.

All buyers were active in a dearer market for secondary yearlings, while domestic and export prices varied depending on quality. High yielding supplementary fed stock were paid premium prices for the better finished lines, with all southern processors having to compete strongly against each other for a market share.

The market was strong for weaner steers less than 300kg, with recent rain motivating restockers. Light weight steer rates lifted 22c selling to a top of 320c/kg, with the better drafts making from 300-318c/kg. The heifer portion returning to the paddock also sold to strong demand, which saw prices rise by 8c to average 283c/kg. There was several store orders in place for well-bred splitter calves less than 200kg, which pushed rates by 30c to reach a top of 325c/kg.

Feeder steers posted modest gains following the rain across NSW and Victoria. Medium weight steers 400-500kg sold 2c dearer making from 288-327c/kg. Lighter weight steers 330-400kg were keenly sought which resulted in a dearer trend of 3c to average 315c/kg

The feeder heifer market lacked the quality of previous sales with plenty of lines effected by the dry conditions. Rates however did continue to show improvement in places. Light weight feeder heifers sold from 280-300c while the medium weight gained 2c making from 288-294c/kg.

Yearling heifer rates fluctuated within a few cents per kilogram of two weeks ago. The highest price on Monday was 307c, while most sales of better finished heifers made from 280-302c/kg.

Trade steer rates were not as robust slipping 4c/kg owing to the mixed quality. The strongest bidding was for the supplementary fed portion which reached a top of 320c/kg. Most sales ranged from 298-315c/kg.

The big prices movers this week were heavy grown steers 500-600kg in response to the reduced supplies at all selling centres. Both southern and northern processors drove the market higher. Heavy steers jumped 16c to top at 316c and average 297c/kg. Heavy bullocks were in short supply selling at 266c to 308c/kg.

Cow rates were another big improver, with prices up to 9-12c/kg dearer odd sales more. Leaner grades made from 180c-235c/kg. Good supplies of heavy well finished cows sold 9c higher averaging 220c and topping at 241c/kg.

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