Markets

Wagga sale 2 Nov 2015: Rain spurs restocker interest

Leann Dax, 03/11/2015

Wagga agents tendered a smaller yarding of only 2,600 after significant rain of up to 70mm fell across the supply area. The market maintained the strong trend from the previous sale spurred on by the potential of green feed.

The market attracted strong restocker competition from local and interstate buyers across secondary grades. Like the season some cattle offered had been set back by the dry, while other lines were in forward store condition showing freshness. Weaner steers consistently sold from 290c-316c and up to 328c, which equated to a dearer trend of 8c/kg.

It was a good result for weaner heifers returning to the paddock given the view quality was quite mixed. Prices jumped 16c for well-bred lines weighing 280-330kg to average 285c/kg.

The bulk of the yearling cattle offered sold to feedlots, with only limited numbers selling to domestic processors. Trade heifers sold 9c dearer making from 250-310c/kg. There were very few yearling steers which met trade specification, as most steers lacked finish. The better finished pens made from 278-310c to average 300.2c/kg.

Apart from a few standout lines the feeder steer market was mostly firm. Medium weight steers 400-500kg made from 282-318c, while the lighter weights 330-400kg sold from 288-315c to average 305c/kg.

There were some excellent lines of well-bred secondary heifers which met stronger demand from feedlots. Increased competition from the north pushed prices 10c/kg higher. Heifers 330-400kg was keenly sought making from 272c-300c/kg.

The export market lacked a major southern buyer and prices for steers 500-600kg gained momentum as the sale progressed. The better finished pens made from 290-316c/kg. Bullocks surged on the back of tight supplies with prices lifting 15c/kg. Heavy bullocks sold from 282-317c/kg.

There was increased buying competition from the north in the cow market and this helped drive rates for leaner grades up to 28c/kg higher. Leaner grades sold from 222-257c/kg. High yielding beef cows were keenly contested by southern and Queensland processors which contributed to a dearer trend of 16c /kg. Heavy cows made from 240-267c/kg.

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