Markets

Wagga sale 28 Nov 2022: Prices mirror erratic market trend

Leann Dax, 28/11/2022

Yarding 2500 Change -510

Cattle markets in the past week have been somewhat erratic and Wagga experienced the same fluctuating price trends, depending on quality and competition. Agents yarded just over 2500 cattle with numbers slightly lower than the previous sale.

The quality of the yarding was mixed, with producers offloading some unfinished stock in varying condition on the back of cheaper price trends. The yarding did comprise of some very good bullocks displaying plenty of weight and yield along with grass finished and supplementary fed yearlings.

Select lines of well-bred steers still commanded over 450c despite the cheaper trend of 12c/kg. Medium weight steers 400-500kg made from 400c-515c to average 468c/kg. Lighter weight steers 330-400kg sold to lack lustre competition which at times was quality related to average 451c/kg.

Feeder heifers 330-400kg were in reasonable numbers and prices dipped 50c making from 390-475c/kg.

Bidding for trade steers was softer and only top drafts of well finished steers attracted some spirited bidding. Prices were generally 12c lower, with 400-500kg steers topping at 515c to average 444c/kg.

The heifer market was very weak at times, with buyers not willing to lift rates in order to secure the top drafts. Buyers holding select butcher orders such as Gather Cole, Herds and Hardwicks competed but at significantly lower levels. Trade heifers 400-500kg sold 50c cheaper, selling from 340-470c/kg.

Weaker demand from a major processor and a domestic buyer contributed to significantly softer price trends for heavy cattle, with heavy grown steer and bullock rates dipping 30c/kg. Heavy steers 500-600kg topped at 418c to average 393c/kg. Bullock quality was excellent at buyers were not prepared to chase the market. Younger bullocks were 10c cheaper making from 355-428c/kg with the main run averaging 411c/kg.

The cow market continued its price decline. Heavy cows were 10c cheaper topping at 360c/kg. The better covered leaner grades sold to erratic demand at times making from 242-290c/kg.

Market reporter: Leann Dax

Click here to view full report on NLRS website

 

 

 

 

 

 

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