Markets

Wagga sale 29 Feb 2016: Reduced supply fuels further price lift

Leann Dax, March 1, 2016

At wagga numbers declined to 4,260 cattle.

The market continued its buoyant run helped by the considerable dip in numbers. The reduced supplies help fuel another price lift for secondary yearlings and rates generally lifted overall class’s 4-10c/kg.

Supply pressure for feeder cattle seems to be building, judging by the increased demand for lighter weight well-bred steers and heifers as the market progressed.

Light weight steers to feed-on 330-400kg sold 4-10c dearer with a top of 339c/kg recorded for Angus steers.

All categories of steers in the feeder market generally experienced a jump in prices of 5-6c, with the bulk of the yearling offering once again selling to feedlots. Medium weight feeder’s steers topped at 329.2c to average 319c/kg.

Lighter weight feeder heifers 330-400kg sold to the keenest competition. A Queensland and NSW feedlot pushed rates 14c higher, chasing well-bred lines of Angus heifers. Medium weight feeder heifers sold strongly lifting 10c to average 298c/kg.

There was reasonable 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 selling from 315c-346c/kg to average $991. Light weight heifers 280-320kg returning to the paddock jumped 18c making from 285c-312c/kg.

The trade market experienced stronger competition from domestic buyers, as processors lifted rates to compete against feedlots. Medium weight grass finished heifers to slaughter sold 9c dearer reaching a top price of 315c to average 292c/kg. The better finished steers rallied domestic buyers into a bidding contests which pushed sales 19c/kg higher. The better finished steers made from 310-329c/kg.

A shortage of heavy export helped the market, with prices firming. Top quality younger lines of heavy grown steers 500 -600kg mostly sold from to 280-305c/kg. Much of the bullock offering comprised of excellent quality steers, with rates firm to 4c dearer. Bullocks topped at 306c to average 290c/kg.

The cow market opened on a weaker note with rates firming as the sale progressed. Well finished cows sold from 228c-246c/kg. A run of leaner cows made from 205-238c, while plainer types sold from 165-197c/kg. Store cows sold from 210c-225c/kg.

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