Markets

Wagga sale 23 Nov 2015: heat fuels bigger yarding

Leann Dax, 24/11/2015

Hot dry weather and higher prices was the catalyst for Wagga cattle numbers to remain high, with agents yarding 4,400.

The market seemed to lose some heat, with easier prices trends over most categories. Looking at the bigger picture there were signs at the market that trade and export processors and feedlots are- for the moment- not prepared to keep pushing the market upwards.

This was evident for export cattle with heavy steer and bullock prices easing 4-8c/kg, with buying from some major processors sporadic. Heavy steers 500-600kg made from 265-305c, while Bullocks sold from 285-295c/kg. Feedlots dominated sales of the better finished young steers 500-600kg paying from 280-321c/kg.

Trade cattle market lacked intensity of the previous week, with rates firm to a few cents easier. Trade heifers 400-500kg sold from 270-303c to average 285c/kg. There were limited steers 400-500kg purchased by domestic processors. The pens of prime steers which did sell to the trade made from 285-307c.kg.

Vealers were in short supply and lacked the weight of past sales. The better covered fresh calves 280-320kg sold from 270-310c/kg.

The feeder steer market showed solid price trends, but still eased back a few cents a kilogram. Demand for quality steers and heifers were evident, with prices touching firm throughout the sale. A total of 1,015 steers weighing 400-500kg were purchased by various feedlots selling to a top of 336c to average $1419. Medium weight heifers to feed-on lacked demand, which caused prices to dip 16c, the better quality lines sold from 282-305c/kg.

On a positive note, most lines of well-bred weaner steer cattle sold to strong northern and local restocking competition. Light weight steers ranged from 300-376c/kg. The heifer portion failed to attract buyers and rates slipped 23c selling from 248-298c/kg.

In a line-up of 550 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 were unchanged with the better run of cows selling from 230-258c/kg. Heavy high yielding beef cows averaged 244c/kg.

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