Markets

Wagga sale 29 May 2017: Feedlot competition eases

Leann Dax, 31/05/2017

Numbers dipped at Wagga Wagga with agents penning just over 2,600 cattle.

Secondary cattle prices lost momentum with several categories posting cheaper rates. Weaker feedlot competition across all categories was the catalyst for the cheaper trends. Major feedlots from Victoria NSW were operating, but some sporadically preferring well-bred lines of Angus cattle.

Similar numbers of lighter weight steers hit the saleyards this week with vendors keen to sell at the higher prices received the previous sale. Light weight 280-320kg steers suitable to feed-on eased 2c making from 350c to 378c/kg. Well-bred yearlings were commanding an average price of 354c for the 330-400kg weight range; however price were back 10c/kg. Black cattle were paid premium prices by lot feeders with the top pen reaching 373c/kg. The medium weight portion 400-500kg was generally 14c/kg cheaper, with the better bred pens making from 330c to 367c/kg.

Restocking interest lifted with buyers paying up to 10c/kg more. At the good end were the top drafts of heavier steer calves. Restockers paid from 380c to 426c/kg to average $1213

The limited supply of well finished trade cattle saw significant price gains as buyers struggled throughout the market to secure numbers. Medium weight trades steers sold 10c dearer to average 354c/kg. Some Domestic buyers shifted their attention to trade heifers weighing over 400kg most of the better quality pens made from 300-379.2c/kg.

The best of the vealer sold to 377c with buyers keen to secure fresh high yielding types. The bulk of the vealers lacked finish and sold to steady feedlot and restocker competition. Lighter weight vealers to slaughter failed to attract buyers with the bulk returning to the paddock seeling from 369-452c/kg.

Prices for bullocks slipped due to the lack of quality pen lots and less demand with one major processor absent from the market. Generally heavy steers and bullocks sold 7-12c/kg cheaper. The better finished pens sold from 300-325c/kg. The National Live Stock Reporting Service ( NLRS) said bullock prices averaged 310c/kg.

Cow numbers were similar and quality improved with some good lines of cows with yield. Generally the market was unchanged. Heavy cows ranged from 239-265c while the leaner trade types averaged 232c/kg.

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