Markets

Wagga sale 25 March 2019: Prices strengthen

Leann Dax, March 26, 2019

Yarding 2100 Change -975

Wagga cattle numbers declined on the prediction of rain by almost 1000  to 2100 head and the reduced numbers had a big impact on rates.

Cattle prices strengthened again following on from the previous week, due to damp conditions and limited supplies.

The higher prices offered, caused a host of plainer conditioned weaners and yearlings to enter the market regardless of the more favourable autumn conditions. The plainer selection did effect processors competition but provided feedlot companies with more choice.

This was evident over lighter weight classes with the bulk of the weaner offering selling to feedlot orders. Lot feeder buyers and back grounders, dominated the market pushing light weight feeder prices 10c-40ckg higher. Well-bred young steers 330-400kg lifted 25c making from 250c-294c to average 281c/kg.

Prices for feeder heifers strengthened on the back of the smaller heifer offering. lighter weight heifers to feed on jumped 24c making from 200c-276c/kg.

Restockers struggled to pay the higher rates and bidding was very selective with most store buyers operating in the 200-280kg weight range paying from 216c-304c/kg. Store steers were generally 10-15c/kg dearer.  There was a price variance based on breed and condition for store heifers and rates varied from 138-238c/kg, for the 200-280kg portion.

Bidding for medium weight trade steers intensified as domestic processors battled against feedlot buyers to acquire some supplies. After some impressive price spikes, medium weight steers topped at 311c to average 304c/kg.  Once again domestic processors were forced to shift their focus to the heifer portion and buyers paid from 244c-306c/kg.

Vealer quantity dropped away, as traditionally occurs this time and year which pushed rates slightly higher. Vealers with finish and freshness made from 255-275c/kg.

The seasonal shortage of export cattle was reflected in the heavy steer prices with the better quality pens selling 10c dearer making from 245c-278c/kg. Heavy heifer prices strengthened with the better shaped pens selling from 230c-251c/kg.

The cow market continued to strengthen with prices generally 50c dearer. Heavy cows made from 188-224c while good clean lean cows sold from 144c-185c/kg.

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