Cattle prices gained further traction at Wagga yesterday posting back-to-back price increases. Agents yarded 4,350 cattle, 600 more the previous market.
Despite the substantial lift in the supply of secondary stock most major feedlot buyers were intent on purchasing the bulk of the well-bred lines, after rain interrupted the flow of cattle last week. Agents said demand from feeders and restockers gave the market a significant edge.
Store orders were plentiful and prices were excellent for all plainer conditioned stock. But even taking the lighter weight weaners into account, it still had onlookers ranking it the best market they had ever seen. Prices for better quality pens of Angus steers 280-320kg regularly made from 300-316c to average 312c/kg.
Feed lot buyers were the market drivers across all categories of weaners and yearlings, with prices for light and medium weight secondary steers jumping a further 11-15c/kg. Medium weight steers to feed on made from 295-322c, while plainer conditioned steers sold from 250-260c/kg. The heifer market was once again exciting with light weight well-bred heifers suitable to feed on fetching 251-316c/kg.
Quality and stronger feedlot competition played a role in the robust results for trade yearlings. There were numerous lines of outstanding supplementary fed steers and heifers which provided big lifts across most categories of 6-15c/kg. Trade steers topped at 338c to average 308c/kg. The medium weight heifers to slaughter made from 262c-315.6c/kg.
The highlight of the day was a run of 40 heavy grown steers weighing 577kg reaching a top price of 329c or the equivalent of 610c/kg cwt. The better shaped heavy steers showed a dearer trend of 9c to average 313.6c/kg. Heavy bullock quality slipped but prices were unchanged selling from 255-321c/kg.
The cow market set a cracking pace with prices 15-19c/kg higher.
Heavy cows sold from 220-253c to average 236.4c, while leaner grades made from 205-248c/kg.
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