Markets

Wagga sale 28 Sep 2015: Feeders push for lighter steers

Leann Dax, 29/09/2015

Cattle prices gained momentum at Wagga yesterday posting back-to-back price increases. Agents yarded 4,050 cattle, 400 more the previous market owing to the looming public holiday next Monday.

Large numbers of well-bred steers determined bidding with major feedlot buyer’s intent on purchasing the bulk of the well-bred lines which pushed prices 3c/kg higher. There were signs this week that feedlot buyers didn’t want to push past 348c/kg for the medium weight portion 400-500kg. There was greater demand for steers 330-400kg from select feeder orders which gave the market an edge to average 338.6c and to top at 354c/kg.

The heifer feeder market was subdued, with two major players Teys and Thomas food International not lifting a finger. Prices were generally 6c cheaper for heifer’s weighing330-400kg

Inquiry for weaner steers was plentiful and values were on par to the previous week. Prices for better quality pens of Angus steers 280-320kg regularly made from 320c to 355c to average 334c/kg. Store orders were from the Monaro, Blaney, Cootamundra, Tumut, Forbes and Molong along with local competition.

Store heifers 280-320kg returning to the paddock sold to a smaller group of buyers which resulted in prices softening 8-16c to average 303c/kg.

Quality and stronger competition played a role in the robust results for trade yearlings. There were numerous lines of outstanding grass finished and supplementary fed steers and heifers which provided lifts of 6c/kg. Trade steers topped at 341c to average 335c/kg. The medium weight heifers to slaughter made from 290c-335c averaging 316.5c/kg.

Supermarket competition assisted in stronger results for heavy grown steers 500-600kg, with prices improving 3c/kg. Better quality young steers regularly made from 320-339c/kg. Heavy bullocks were in limited numbers and prices were unchanged selling from 312-334c/kg.

The cow sale gathered pace as the market progressed, with Bindaree beef returning to the market mid-way through the market after a lengthy absence. The extra competition strengthened prices 9c for high yielding cows. A run of heavy beef cows made from 260-297.6c to average 272c/kg. Leaner grades sold 8-10c dearer ranging from 238-272c/kg.

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