Markets

Wagga sale 10 Dec 2018: Market bounces on rain forecast

Leann Dax, December 11, 2018

Yarding 4200  Change -100

Price action for cattle was centred on secondary cattle at Wagga in a slightly smaller yarding of 4,200. The market reacted to the prediction of heavy rains to hit late this week.

There were bounces of up to 48c for young and light weight steers and heifers as farmers with a shot of confidence gave strong support to cattle weighing less than 280kg. The bulk of the steers sold from 220-329c/kg while the well-bred heifer portion made from 200-268c/kg.

Trade cattle prices fluctuated around in early trade, with the plainer quality a contributing factor. There were no yearling steers 400-500kg suitable for the trade with feedlots absorbing all steers. Yearling heifers suitable for the trade were limited and most were grass finished, resulting in an easier trend of 3c/kg. The better finished heifers to slaughter made from 245-269c/kg.

Vealers suitable for the trade were in short supply and quality improved across European cross drafts, with the better finished fresh vealers selling from 260c-277c/kg. Other sales of veal to slaughter ranged from 230-255c/kg.

The feeder market continued to show promise with increased orders commencing as the sale progressed. Well-bred steers 330-400kg made 240-296c/kg.  In contrast the medium weight steers sold to a smaller field of buyers and managed a 2c rise making from 220-299c/kg.  Feeder heifer competition was solid for the lighter weight portion to average 255c/kg. Medium weight heifers to feed on met slightly better competition selling from 240c to 285c/kg.

Export cattle were limited and buyers struggle to make a start because of the low number. Heavy grown steer’s 500-600kg sold 10c/kg dearer, making from 265-280c/kg.  There were too few bullocks to quote and rates ranged from 264-280c/kg.

The supply of beef cows remained high and most, better quality beef cows sold 10-13c cheaper making from 186- 209c/kg. Plainer cows dipped 19c selling between 130-186c/kg.

To view full NLRS report click here

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