Markets

Wagga sale 23 October: Prices gain traction for second week

Leann Dax, 24/10/2017

Cattle prices gained traction at Wagga yesterday posting back-to-back price increases since the rain started. Agents yarded 4400 cattle, 300 more than the previous market.

Despite the lift in the supply most major feedlot buyers were intent on purchasing the bulk of the well-bred lines above 400kg, after rain interrupted the flow of cattle last week.  Agents said demand from feeders and restockers gave the market a significant edge over secondary categories.

Store orders were plentiful and prices were excellent for all plainer conditioned stock.  Prices for better quality pens of Angus steers 330-400 kg regularly made from 290-329c to average 307c/kg. Light weights just over 200kg made up to 390c/kg

Feedlot buyers were the market driver’s over heavier categories of yearlings, with medium weight secondary steers jumping a further 9c/kg. Medium weight steers to feed on made from 295-322c, while plainer conditioned steers sold from 260-288c/kg. The heifer market was once again exciting with light weight well-bred heifers suitable to back ground fetching 280-317c/kg.

Quality and stronger feedlot competition played a role in the robust results for trade yearlings. There were numerous lines of outstanding supplementary and grain finished steers and heifers which provided big lifts across most categories of 10-14c/kg. Trade steers topped at 313c to average 297c/kg. The medium weight heifers to slaughter made from 270c-313c/kg.

Heavy grown steers 500-600kg reached a top price of 295c or the equivalent of $1592. Heavy bullock quality was excellent which helped lift rates by 11c/kg.  Bullocks sold from 276-296c/kg.

The cow market set a strong tone with prices 4 c/kg higher.

Heavy cows sold from 228-242c to average 234c, while leaner grades made from 205-235c/kg.

  • MLA last week produced this nice profile on NLRS markets reporter, Leann Dax, who writes this weekly report for Beef Central.

 

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