Markets

Wagga sale 1 April 2019: Buyers active in dearer market

Leann Dax, April 2, 2019

Yarding 3400 Change 1300

Widespread rain did not deter producers, with cattle numbers lifting to 3400 and was mostly made up of yearlings.

All buyers were active in a dearer market for secondary yearlings, while domestic and export prices varied depending on quality. High yielding supplementary fed stock were paid premium prices for the better finished lines, with all southern processors having to compete strongly against each other for a market share.

The market was stronger for weaner steers less than 300kg, with weekend rain motivating restockers. Light weight steer rates lifted 24c selling to a top of 305c/kg, with the better drafts making from 280-305c/kg.  Heifers returning to the paddock also sold to strong demand, which saw prices rise by 20c to average 239c/kg.

Feeder steers posted modest gains following the rain across NSW and parts of Victoria. Medium weight steers 400-500kg sold 4c dearer making from 240-313c/kg.  Lighter weight steers 330-400kg were keenly sought which resulted in a dearer trend of 9c to average 290c/kg

The feeder heifer market lacked the quality of previous sales with plenty of lines affected by the autumn conditions. Rates however did continue to show strong improvement. Light weight feeder heifers 330-400kg sold from 220-290c while the medium weights gaining 22c making from 280-288c/kg.

Yearling heifer rates fluctuated quite a bit. The highest price on Monday was 285c, while most sales of better finished heifers made from 245-275c/kg.

Trade steer rates dipped 9c/kg owing to the stronger feedlot demand. The strongest bidding was for the European cross fed portion which reached a top of 315c/kg.  Most sales ranged from 270-305c/kg.

Heavy grown steers 500-600kg sold to solid competition from export and domestic processors. Heavy steers gained 15c to top at 305c and average 288c/kg.  There were no heavy bullocks yarded

Cow rates strengthened and quality slipped noticeably. Leaner grades lifted 29c making from 155c-230c/kg. Limited supplies of heavy well finished cows sold 20c higher averaging 229c and topping at 242c/kg. Restockers locked into lengthy bidding duels against processors paying from 161-223c/kg for cows returning to the paddock.

To view full NLRS report click here

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