Wagga sale 14 Jan 2019: Grain prices curb feedlot demand

Leann Dax, 15/01/2019

Yarding 5100 Change 2500

Rising numbers took the sting out of rates in a bigger yarding of 5100 at Wagga.

Price falls varied between categories managing a slight lift in rates for cows. But the general trend across the board was cheaper.

Bidding remained erratic, with restockers still unsure of opening price trends in 2019.  Light weight steers back to the paddock were hit, with rates falling 20c for the 200-280kg weight range. The bulk of the lighter weight steers made from 210-309c/kg.

Feedlot demand is being curbed by grain prices and plenty of cattle in the pipeline. Prices for feeder steers slipped 10-19c with competition patchy at times for coloured cattle. Feeder steer rates ranged from 234-295c, with the lighter weight portion 330-400kg averaging 272c/kg.

The feeder heifer market experienced a lack of demand midway causing a price correction 8-20c/kg across light and medium weight classes. Heifers to feed on consistently sold from 210-274c/kg.

Sharp price declines of up to 18c were recorded for trade heifers as domestic processor demand fell away. It resulted in only one or two buyers bidding throughout the sale. Trade heifers sold from 230-258c with a single pen to 272c/kg. There was only a limited few steers purchased in the 400-500kg weight range and prices were generally unchanged to average 279c/kg.

Export cattle sold at lower rates with falls of up to 11c for heavy steers while bullocks lifted as the sale progressed. Heavy steers and bullocks sold from 240-284c/kg.

Cow prices were generally 4c dearer with most processors operating.  Heavy cows made from 185c-226c/kg. The middle run of leaner types sold at 145c to 200c/kg. Plain cows returned to the paddock sold at 172-190c/kg.

To view the full NLRS report for this sale click here



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