Markets

Wagga sale 23 May 2016: Feeder market shows promise

Leann Dax, 24/05/2016

A much small yarding of 3,775 cattle at Wagga was offset by weaker competition over trade and export categories.

Trade cattle prices bounced around in early trade, with the plainer quality a contributing factor. Yearling steers suitable for the trade were limited and most were grass finished, resulting in a cheaper trend of 7c/kg. The better finished steers to slaughter made from 290-312c/kg.   Yearling heifers sold to steady demand, with prices unchanged to a few cents cheaper averaging 294c/kg.

Vealers suitable for the trade were in short supply and quality improved across European cross drafts, with the better finished fresh vealers selling from 300c-336c/kg. Other sales of veal to slaughter ranged from 230-298c/kg. There were increased supplies of light weight vealers, which put supply pressure on the market. Vealers returning to the paddock generally experienced a price correction of 6-13c/kg.

In early sales there was a lift in the level of demand for secondary weaners, inspired by the prediction of more rain this week. Local and Northern store orders were plentiful and well-bred weaner steers returning to the paddock sold firm to 3c dearer. The well-bred weaner steer portion 230-290kg made from 305c-357c/kg. With increasing numbers of secondary heifers offered restockers weren’t pushed by feedlots and prices dipped 23c, store buyer paid from 230c-280c/kg.

The feeder market continued to show promise with increased orders commencing as the sale progressed. Well-bred steers330-400kg made 295-346c/kg. In contrast the medium weight steers sold to a smaller field of buyers and managed a 5c rise making from 300c-338c/kg. Feeder heifer competition weakened 3c- 5c for the lighter weight portion to average 294c/kg. Medium weight heifers to feed on were slightly better selling from 292c to 303c lifting 7c/kg.

Export cattle were caught up in cheaper trends due to the plainer quality with heavy grown steer’s 500-600kg selling 23c/kg lower, making from 262-310c/kg. There were too few bullocks to quote and rates ranged from 280-316c/kg. Heavy grown heifers failed to attract all processors and prices generally fell 18-23c/kg.

The supply of beef cows remained high and most, better quality beef cows sold 5c dearer making from 215- 247c/kg. Plainer cows sold between 185-215c/kg. There were numerous store buyers operating and cows returning to the paddock fetched 176-224c/kg.

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