Markets

Wagga sale 23 Nov: Shortage of secondary stock fuels price rise

Leann Dax, 24/11/2020

Yarding 2730 Change 620

This week at Wagga feeder steers jumped 4c, lighter weights recorded a top price of  472c/kg to average 452c/kg. Medium weights sold firm to a few cents cheaper which was due in part to a drop in quality. Medium weight steers 400-500kg made from 390-454c with most sales selling well above the 400c/kg mark.

Restockers contested solidly  against feedlots in the weight range of 330-400kg. Prices were unchanged to 1c dearer. Steers returning to the paddock averaged $1651/head.

Feeder heifers were once again in limited supply with plenty of heifers weighing above 500kg. The bulk of the medium weights 400-500kg sold 7c cheaper averaging 403c/kg.

Trade heifers met weaker processor competition and feedlot demand. Prices for suitable slaughter stock sold 4c cheaper making from 362-422c/kg.

Trade steers slipped 6c making  from 391c-438c/kg.

Prices drew out some top-quality heavy steers, with Coles paying a premium for the younger pen lots.  Despite premiums for younger steers prices dipped 18c  making from 330-395c/kg.

Bullocks were well supplied, and buyers were not keen to chase the market resulting in a cheaper trend of 11c to average 359c/kg.

In the cow run weaker bidding for the best heavy cows resulted in a cheaper trend  of 8c  to average 310c/kg. Leaner types were few selling from 280-295c/kg.

To read full NLRS report click here

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