Markets

Wagga sale 23 Jan 2017: Small buying panel leads to softer trend

Leann Dax, 24/01/2017

At wagga numbers lifted to 4,800 and taking it with it a drop in quality.

Even with a shortage of export cattle the market lacked competition easing 22-27c/kg. The cheaper trend was obvious at the commencement of the sale with only two export processors operating, while feedlot competition was selective easing 3c/kg for the feeder steer portion. Top quality younger lines of heavy grown steers 500 -600kg to slaughter made from 300-332c/kg. Bullocks were in reasonable supply selling from 276-306c/kg.

Heavy slaughter heifers were over looked by some major processors causing prices to fall 40c/kg. The better shaped and younger heifers made from 280-312c/kg.

The trade market continued to struggle to find well finished cattle and to compete against the higher rates offered by feedlots. Medium weight grass finished steers were limited, with domestic buyers paying to a top of 345c/kg. The better finished steers made from 305c-320c/kg. Competition for trade heifers 400-500kg was patchy at times which caused rates to dip 10c/kg. The main run of trade heifers 400-500kg fetched 282-336c/kg.

Another market to experience a softer trend was for well-bred feeder heifers where prices slipped 3c/kg. The bulk of the yearling offering sold to feedlots, with demand easing as the sale progressed. Medium weight feeder’s heifers topped at 350c to average 336c/kg. Heavier weight feeder heifers 400-500kg sold to fluctuating prices trends dependent on fat cover and breeding to average 322c/kg.

Feeder steers maintained last week’s higher rates to sell at 310-374/kg.

There was limited numbers of lighter weight store conditioned weaners, which attracted some bidding from local and northern restockers. There were flat spots in the market with steers 280-320 kg making from 349c-384c/kg to average $1140. Light weight heifers returning to the paddock made from 336c-396c/kg.

The cow market opened on a weaker note with rates 3-6c lower. Well finished cows sold from 236c-260c/kg. Southern export companies competed for the better finished leaner categories and a run of leaner cows made from 222-244c/kg

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