Markets

Wagga sale 24 Oct 2022: ‘Base rate’ remains elusive

Leann Dax, 25/10/2022

Yarding 1900 Change -700

Wagga market is struggling to find a base rate.  Numbers  declined with 1960 cattle, with ongoing rain and flash flooding across the supply area.

The quality of the yarding slipped with producers offloading unfinished stock in varying condition on the back of very good prices.

Select lines of well-bred steers 200-280kg are still commanding over 605c despite the cheaper trend of 35c/kg. Medium weight steers 400-500kg slipped 10c making from 510c-581c to average 541c/kg.

The price results for feeder heifers was more even due to a decrease in supply. Feeder heifers were unchanged to a few cents cheaper with the medium weights  averaging  514c/kg.

Bidding for trade steers was weaker, with only a few suitable for the trade. The better finished selling from 500-555c/kg. Only top drafts of well finished lighter weight steers attracted increased bidding to record a top price of 582c/kg.

The heifer market was erratic at times, with buyers not willing to lift rates much past 550c/kg as the sale progressed, a domestic processor competed strongly late in the day  for the top pens, paying up to 580c/kg.

Weaker demand from processors and lot feeders drove much of the price falls for heavy grown steers, rates dropping 30c/kg. Heavy steers 500-600kg topped at 530c to average 443c/kg. Bullock quality varied causing rates to appear erratic. Young bullocks gained 10c making from 420-522c/kg with the main run averaging 496c/kg.

The cow market continued to hold form under despite less cows, with agents yarding almost 375 head. As the sale progressed some southern processors chased the market.  Heavy cows unchanged to slightly dearer averaging 424c/kg. Leaner grades tracked a few cents dearer making from 230-390. Plainer types were more difficult to sell ranging from 245-310c/kg.

Market reporter: Leann Dax

Click here to view full report on NLRS website

 

 

 

 

 

 

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