Wagga sale 20 Feb 2017: Restocker competition underpins market

Leann Dax, 21/02/2017

Steady NSW and Victorian restocker competition helped underpinned demand for weaner steers and heifers at Wagga on Monday.

Agents offered 4,300 cattle with the bulk of the offering more suited to lot feeding and restocking. Feedlot competition was the market drivers on heavier cattle, while domestic processors struggled to acquire supplies owing to the lack of quality.

Well-bred Weaner steers returning to the paddock 200-280kg made from 377c-398c averaging $987/head. Heavier steers 280-320kg sold 10c cheaper making from 331-38c to average 354c/kg.

The majority of yearling cattle weighing above 400kg were purchased by northern and southern feedlots with well-bred lines of Angus steers receiving the better prices. Rates in general fell 10c selling from 290-354c/kg. Lighter weight feeder steers sold to fully firm prices, with restockers cementing a floor in rates making from 300-362c/kg.

Heifers suitable for the trade sold 3-5c easier making from 275-343c to average 302c/kg. The limited supplies of slaughter steers benefited from strong demand from processors struggling to fill orders. Trade steers made from 312-334c/kg.

Vealer quality varied and so did price trends. The heifer portion gained 10c while the vealer steers were unchanged to a few cents cheaper in places. European veal and their crosses sold from 335-360c/kg.

The better finished steers 500 to 600kg sold 14c cheaper reaching a top price of 320c/kg. Northern feedlot buyers chasing quality young heavy grown steers to feed on averaged 308c lifting 10c/kg. Bullocks were in short supply and rates were unchanged selling from 280c to 318c/kg. Heavy heifers over 500kg made from 268c-302c to ease 15c/kg..

Demand was not as enthusiastic in the cow market with prices softening 3c to 5c/kg. Heavy well finished beef cows made from 232c-253c/kg. Weaker competition across leaner grades saw the market slip up to 5c leaner types sold at 185-232c/kg. A handful of store orders were in place for leaner young cows and price generally ranged from 193c-230c/kg


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