Markets

Wagga sale 22 Feb 2016: Numbers up on hot weather, higher prices

Leann Dax, February 23, 2016

Hot weather and higher prices contributed to numbers increasing to 4,730 at Wagga yesterday.

The market seemed to lose some heat, with easier prices trends over most yearling categories. There were signs at the market that trade and feedlots are- for the moment- not prepared to keep pushing the market upwards, particularly at the plainer end of those categories.

Trade cattle market lacked intensity of the previous week, with rates 8c/kg cheaper. Trade heifers 400-500kg sold from 255-298c to average 283c/kg. There were limited steers 400-500kg purchased by domestic processors with insufficient numbers to quote on. The best of prime steers which did sell to the trade made from 292-322c.kg.

Vealers were in short supply and lacked the weight of past sales. The better covered fresh calves 280-320kg sold from 297-320c/kg. Vealers lacking finish sold mostly to feedlots selling at 296-334c/kg.

The feeder steer market showed weaker price trends easing back up to 10c/kg. Demand for quality steers and heifers were evident, with prices touching firm throughout the sale. A total of 577 steers weighing 400-500kg were purchased by various feedlots and sold to   a top of 330c to average $1407 according to Meat & Livestock Australia. Medium weight heifers to feed-on sold to fluctuating demand, which caused prices to dip 6c, the better quality lines sold from 280-304.2c/kg and once again the well-bred lines equalled last week’s rates .

Lines of well-bred weaner steers sold to northern and local restocking competition. Light weight steers ranged from 300-342c/kg. The heifer portion failed to attract buyers and rates slipped 23c selling from 278-296c/kg.

The cheaper prices were evident for export cattle when feeder buyers opted not to match processors rates. Heavy steers 500-600kg to slaughter were unchanged making from 268-307.6c, while the feeder steer portion sold 13c cheaper making from 288-308c/kg. Bullocks were in shorter supply selling at a cheaper trend of 4c to average 285c/kg.

In a line-up of just over 800 cows not all southern processor operated while, other southern buyers were selective in making purchases. The usual northern group were in attendance which helped underpin prices. All grades of cows generally sold 5c- 10c cheaper, with the better run of cows selling from 228-246c/kg. Heavy high yielding beef cows averaged 236c/kg. Lean cow lost the bidding intensity of last week which resulted in prices dipping to a low of 190c, while the better covered types made from 200-238c/kg.

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