Markets

Wagga Sale 29 July 2019: Market rises on tighter supply

Leann Dax, 30/07/2019

Tightening supplies at Wagga pushed the market higher in an offering of 2464.

Limited numbers of well finished stock impacted on prices with most types of export and domestic cattle recording dearer trends.

Young cattle suitable for the trade received a lift of 5-7c/kg with southern domestic processors, feedlot buyers and major export companies, displaying a more active approach for the medium weight lines.

Medium weight trade heifers recorded rate gains of 5c to sell slightly lower than steers, prices topping at 327c to average 308c/kg. Medium weight steers sold to a stronger trend with prices generally 7c/kg dearer. Medium weight trade steers ranged from 305c-343c averaging 336c/kg.

There was a noticeable step up in demand for heavy export steers and heifers. Bidding intensified for heavy grown heifers over 500kg and a top price 318c/kg was reached for a pen Angus heifers weighing approximately 530kg.  Most of the better shaped heifers sold 12c dearer to average 301c/kg.

Strong prices were reflected through the heavy grown steer and bullock market also. Heavy grown steers sold to firming rates, while bullocks jumped 30c/kg which was a reflection of the improved quality on last week’s market. Prices ranged from 300-343c/kg.

Competition between a major South Australian feedlot and local feeder buyers ramped up rates considerably and, prices continued to strengthen as the market progressed. The most obvious lift in values was for feeder steers weighing 330-400kg with prices 15c higher. The better bred lines made from 305-345c/kg. The market for medium weight feeder steers was stronger.  Well-bred Angus Steers with frame and condition were keenly sought reaching a top price of 345c to average 336c a lift of 11c/kg.

Cow prices were significantly stronger amid reports of low numbers in the south. Heavy cows surged 25c selling from 270c to 310c to average the equivalent of $1,876. Leaner grades sold to stronger price trends selling from 232c to 278c/kg. Young light weight store cows with plenty of frame sold from 215c-232c/kg.

To view full NLRS report click here

HAVE YOUR SAY

Your email address will not be published.

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Beef Central's news headlines emailed to you -
FREE!