Markets

Wagga sale 22 June 2015: Rain ignites restocker confidence

Leann Dax, 23/06/2015
Buyers operating during the latter stages of the Wagga cattle sale yesterday. Picture: Leann Dax

Buyers operating during the latter stages of the Wagga cattle sale yesterday. Picture: Leann Dax

Widespread rains across the region impacted on numbers significantly at Wagga Wagga yesterday, with agents yarding 3,570 cattle, 1,900 less than the previous market.

Rain ignited restocker confidence and secondary cattle were the hot ticket item. Well-bred weaners and yearlings continued their upward trend, after rain inspired increased numbers of store orders. Agents said prices were up to 20c dearer with the season on the verge of being very good for forage crops through the colder months.

Restockers in search of cheap secondary cattle were disappointed as well-bred light weight steers jumped 21c/kg with weight determining the higher rates. The better bred lines with plenty of frame, weighing 260-320kg, sold from 280-308c/kg. Plainer bred steers returning to the paddock ranged from 260-272c to average 267c/kg. Processors requiring light weight vealers and weaners found the going tough and lifted their rates 20-35c paying from 282c-296c/kg.

Feedlots operated with far more dare than previous weeks, due to the contraction of numbers at southern selling centres. Several feedlot buyers’ intent was urgent, as they mopped up all well-bred steers regardless of their plainer condition. Rates in general lifted 6-8c with steers 330-400kg selling from 278-312c/kg. Medium weight steers ranged from 277-309c/kg.

Domestic buyers struggled to pay the higher rates and to secure the correct article, with very few yearling steers selling to the trade. The limited numbers of medium weight steers which sold to slaughter made from 275c-302c/kg.

Yearling heifer prices were impressive with feeder buyers paying 20c more for heifers weighing 330-400kg. The better bed lines sold from 275-300.2c/kg.   Medium weight trade heifers lifted 6c making from 255-315.2c/kg. Highlighting the heifer market was where domestic buyers paid up to 316c/kg for a pen of Angus heifers weighing 536kg.

Grown steers and bullock rates lived up to expectations following last week’s heavy rain. Prices bounced 20-24c with the better lines of younger grown steers and bullocks selling from 290-316c/kg.

The cow market gained plenty of traction as the sale progressed with prices lifting 11-23c/kg. The greatest price movement was for younger lean trade cows with some processors up grading some lines to suit their heifer specifications. Heavy well finished cows were in shorter supply selling from 205c to 242c/kg. Lean cows were keenly contested by all processors fetching from 180c-225c/kg.

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