Markets

Wagga sale 25 June 2018: Market lifts on seasonal shortage

Leann Dax, 26/06/2018

Yarding 3260  Change 60

The seasonal shortage of top quality domestic and export slaughter cattle in the Riverina gave the market an edge this week, with prices improving by up to 10c/kg at Wagga Wagga, NSW on Monday.

This trend was evident over most slaughter cattle, where the best heavy steers sold 10c dearer to reach a top price of 296c, while the balance of the grown steers 500-600kg made from 272c to 288c/kg.

Trade cattle experienced strong demand overall classes with domestic processors struggling to outbid feedlot buyers across all lines of well-bred and supplementary finished stock. Trade steers were unchanged to slightly dearer averaging 303c/kg.  Generally trade heifers across the board jumped 7c fetching 254-278c/kg.

Store cattle prices this week responded to widespread rain across the region and prices climbed, helped along by a boat order.  This resulted in rates jumping 30c/kg with weaner steers making from 240c-308c/kg boosting steer values by $100/head in places. There was little demand for store heifers with prices drifting back 10c selling from 180c to 230c/kg.

The smaller group of feedlot buyers did not affect values with prices generally 7-11c dearer. Medium weight steers 400-500kg made from 280c -318c to average 304c/kg.  Angus heifers suitable to feed on met with strong competition and sold to 285c pushing overall heifer prices 7c/kg higher. Heifers weighing 280-330kg topped at 265c averaging 257c/kg.

A buoyant cow market kept price firm to 3c/kg dearer for the heavier types. Leaner cows were keenly contested making from 130c to 185c/kg. Bidding intensified for lighter weight cows to turnout, with store buyers paying from 185c-221c/kg. Ends…

Full NLRS report here

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