Markets

Wagga sale 26 Oct 2015: Dearer trend in smaller yarding

Leann Dax, 27/10/2015

Numbers dropped by almost a third with only 2,655 cattle yarded.

A shortage of export cattle gave the market greater momentum this week, with prices improving by up to 27c/kg. The dearer trend was obvious at the commencement of the sale with top quality younger lines of heavy grown steers 500 -600kg in limited supply. Bullocks were all most non-existent with only 25 head penned to average 282c/kg. Heavy grown steers’ ignited the bidding late in the sale recording a top price of 324c to average 300c/kg. The better runs of young heavy steers consistently made from 290c-310c/kg.

A highlight of the heavy export market was the heifer portion where heifers weighing 500-600kg made up to 292c/kg, with prices pushed higher by southern and northern export competition. Most of the better shaped pens lifted 11c selling from 250c to 290c/kg.

The trade market experienced a surge in prices as buyers struggled to compete against the higher rates offered by feedlots. Medium weight grass finished steers lifted 19c with domestic buyers paying to a top of 314c/kg. The better finished steers made from 280c-312c/kg. There was strong competition for trade heifers which lifted rates 13c/kg. The biggest influence on the price increase was caused by much stronger southern feed lot competition.

Another market to experience a jump in prices was for well-bred feeder cattle where prices lifted 16-20c/kg. The bulk of the yearling offering sold to feedlots with demand also strengthening as the sale progressed. Medium weight feeder’s steers topped at 316c to average 308c/kg. Lighter weight feeder heifers 330-400kg was in high demand selling 21c dearer making from 252c-291c/kg.

There was limited numbers of lighter weight store conditioned weaners, which attracted stronger bidding from restockers. There were no flat spots in the market with steers 280-320 kg constantly making from 288c-329c/kg to average $951. Light weight heifers returning to the paddock made from 268c-272c/kg.

The cow market opened on a strong note with rates 15-30c higher. Well finished cows sold from 224c-242c/kg. Southern export companies clashed with northern processors for the better finished leaner categories lifting prices 30c/kg. A run of leaner cows made from 218-238c while plainer types sold from 188-215c/kg.

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