Markets

Wagga sale 21 Aug 2017: Export shortage drives price momentum

Leann Dax, 22/08/2017

At wagga numbers dropped by almost a third with only 1,900 cattle yarded.

A shortage of export cattle gave the market greater momentum this week, with prices improving by up to 9c/kg. The dearer trend was obvious at the commencement of the sale with top quality younger lines of heavy grown steers 500 -600kg in limited supply. Amongst the offering was a B-Double load of 100 day grain fed bullocks which ignited the bidding to record a top price of 303c to average 291c/kg. Heavy grown steers were keenly sought and some of these were 100 day grain fed who consistently made from 290c-305c/kg.

Another highlight of the heavy export market was the heifer portion where 100 day grain fed heifers weighing 500-600kg made up to 294c/kg, with prices pushed higher by strong export competition. Most of the better shaped pens lifted 22c selling from 280c to 292c/kg.

The trade market was sluggish at times and buyers struggled to compete against the higher rates offered by feedlots. Medium weight grass finished steers sold 10c cheaper with domestic buyers paying to a top of 306c/kg. The better finished steers made from 280c-304.6c/kg. There was stronger competition for trade heifers and prices were firm to 4c easier. The bulk of the medium weights 400-500kg making from 260-294c/kg.

Another market to experience a fall in prices was for well-bred feeder cattle where prices drifted 10c/kg. The bulk of the yearling steer offering sold to feedlots with demand fluctuating as the sale progressed. Medium weight feeder’s steers topped at 322c to average 293c/kg. Lighter weight feeder heifers 330-400kg sold to a smaller group of buyers with demand weakening for some breeds of stock. Feed heifers 330-400kg eased 4c selling from 248-305c/kg.

There was limited numbers of lighter weight store conditioned weaners, which were in plainer condition. There were some flat spots in the market with steers 280-320 kg constantly making from 260c-338c/kg to average $943. Light weight heifers returning to the paddock made from 258c-320c/kg.

The cow market opened on a strong note with rates 8-14c higher. Well finished cows sold from 235c-259c/kg. Southern export companies clashed with each other for the better finished categories. A run of leaner cows made from 215-246c while plainer types sold from 192-219c/kg.

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Comments

  1. Leann Dax, 23/08/2017

    Thank you Bruce for the positive feed back, its very much appreciated. Leanne

  2. Bruce Redpath, 22/08/2017

    Well done Leanne always a great report on Wagga I hope we can report the market at Mortlake as accurately and in the way we can all understand.

    We couldn’t agree more, Bruce. Leanne has a great ability to capture the sentiment of the market, and isn’t afraid to report it – good or bad. Anybody writing cattle market reports could do worse than follow Leanne’s excellent example. Editor

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