Markets

Wagga sale 27 Apr 2015: Prices continue to surge

Leanne Dax, 28/04/2015

NUMBERS were moderately higher with 3850 cattle penned at the weekly Wagga sale yesterday.

A seasonal shortage of export cattle gave the market extra momentum this week, with prices improving by up to 20c and more in places. The dearer trend was evident at the commencement of the sale with top quality lines of heavy grown steers 500 -600kg in shorter supply. Bullocks were all most non-existent with only 28 head penned to average 250.1c/kg.  Heavy grown steers ignited the bidding gallery with the top end making to 276c/kg. The better runs of young heavy steers consistently made from 250c-274c/kg.

A feature of the heavy export market was the heifer portion where an exceptional pen of Angus heifers weighing 625kg made 266c/kg. Most of the better shaped pens lifted 12c and selling from 225c to 262c/kg.

The trade market experienced a surge in prices as buyers struggled to compete against the higher rates offered by feed lot operators. Medium weight grass finished steers lifted 16c with domestic buyers paying to a top of 275c/kg. The better finished steers made from 245c-273c/kg. Once again there was strong domestic processor demand for heifer which lifted prices 9c/kg. The biggest influence on the price increase was caused by stronger feed lot competition.

Another market to experience a jump in prices was for well-bred feeder cattle where prices jumped 16-17c/kg.  The bulk of the yearling offering sold to feedlots with demand strengthening as the sale progressed. Medium weight feeder’s steers topped at 275c to average 263.6c/kg.  Lighter weight feeder heifers were a hot ticket item selling 15c dearer, making from 222c-247c/kg.

Restocker interest in store weaners

There was an increase in lighter weight store conditioned weaners, which sold to strong restocker bidding. There were no flat spots in the market with steers 200-280 kg constantly making from 250c-270c/kg. Light weight heifers made from 203c-250c/kg.

The cow market opened on a stronger note with price 10c higher. Well finished cows made from 190c-229c/kg.  Southern export processors battled it out for leaner categories lifting prices 6-10c/kg. There were plenty of store orders in place and cows returning to the paddock sold from 150c-194c/kg.

 

View full NLRS sale reports from markets around Australia in Beef Central’s markets section.

 

 

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