Markets

Wagga sale 25 July 2016: Signs of slowdown in numbers emerging

Leann Dax, 26/07/2016

Cattle were dearer at Wagga in a smaller yarding of just over 2,000, as the market reacted to the rain and the promise of more wet weather to come.

Looking at the big picture, agents say signs are emerging of a slowdown in cattle numbers, after parts of western NSW and the Riverina received more heavy falls over the weekend.

There wasn’t a lot of quality or numbers to test the strength of trade market, with just 7 steers sold to the trade. Theses few steers made from 338-370c/lg.

Trade heifers 400-500kg were well supplied and all trade buyers including feedlots competed strongly for a market share. Trade heifers sold unchanged making from 339c-363c/kg.

Commission buyers with several NSW orders were active, making up for what was a reduced gallery of local buyers. Strong northern orders kept rates firm to 12c/kg dearer. Weaner steers 280-320kg fetched from 356-389c to average $1130

The feeder market reacted to the rain and was a highlight of this week’s prime market. An example of this was feeder steers posting back-to-back price gains of another 5-12c/kg. Steers 330-400kg topped at 390c to average 374c/kg.

It was more of the same for feeder heifers as feedlot buyers and domestic processors clashed for a market share. Interestingly domestic processors were unable to match rates for the better finished portion. Feeder heifers lifted 7-15c to record a top price of 368c/kg for heifers weighing 412kg.

Heavy steers and bullocks were in short supply which drove pieces up to 14c higher. The better finished steers sold at 340-370c/kg.

Prices were buoyant in the cow market due to the shortfall in numbers with only 200 penned. Heavy cows jumped 11c to average 274c/kg. Leaner grades edged 11-32c/kg higher making from 238-280c/kg.

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