Markets

Wagga sale 25 May 2015: Feedlot competition eases back

Leann Dax, 26/05/2015

Numbers climbed higher at Wagga Wagga yesterday with agents penning more than 5100 cattle.

Secondary cattle prices lost momentum with several categories posting cheaper rates. Weaker feedlot competition across all categories was the catalyst for the cheaper trends. Major feedlots from Victoria NSW were operating, but some sporadically. A major Queensland feedlot which operated last week was not in the mix.

Bigger numbers of lighter weight steers hit the saleyards this week with vendors keen to sell at the higher prices received the previous sale. Light weight 280-320kg steers suitable to feed-on eased 3c making from 239c to 282c/kg. Well-bred yearlings and weaners were commanding an average price of 279c for the 320-400kg weight range; however price were back 6c/kg. Black cattle were paid premium prices by lot feeders with the top pen reaching 302c/kg. The medium weight portion 400-500kg was generally 10c/kg cheaper, with the better bred pens making from 260c to 300.2c/kg.

Restocking interest waned with buyers paying 12c/kg less. At the good end were the top drafts of heavier steer calves with the highlight being prices for the big one mark lines of Angus steers, which restockers paid from 250c to 276c/kg.

The significant reduction in the supply of trade cattle saw prices firm to a few cents dearer, as buyer struggled throughout the market to secure numbers. The plainer yearlings wore the brunt of a cheaper trend with some trade buyers only operating on the top quality pens. Medium weight trades steers sold 3c dearer to average 296c/kg. All Domestic buyers shifted their attention to trade heifers weighing over 400kg most of the better quality pens made from 270-292c/kg. One agent offered 200 yearling heifers grain fed, for 70 days, which made from 272c to 299.6c/kg

The best of the vealer sold to 305c with buyers keen to secure fresh high yielding pens. The bulk of the vealers lacked finish and sold to steady feedlot and restocker competition. Lighter weight vealers to slaughter failed to attract buyers and prices dipped by 22c/kg.

Prices for bullocks slipped due to the lack of quality pen lots. Southern processor demand weakened as the market progressed with heavy steers 500-600kg selling 12c cheaper. The better finished pens sold from 260-304c/kg. The market for heavy bullocks fluctuated due to the limited numbers and plainer quality. The National Live Stock Reporting Service ( NLRS) said bullock prices averaged 275.4c/kg.

Cow numbers increased and quality dipped with a significant portion lacking yield. Generally the market slipped 6c/kg. Heavy cows ranged from 190-222c while the leaner trade types averaged 193c/kg.

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