Markets

Wagga sale 3 Mar 2020: Export demand rises

Leann Dax, 03/03/2020

Yarding 4370 Change -430

Cattle prices surged at Wagga in a reduced offering of 4370 cattle of which were 1305 cows.

One of the highlights of the sale was the noticeable step up in demand for heavy export steers and heifers.

Bidding intensified for heavy grown heifers over 500kg and a top price 345c/kg was reached for a pen Angus heifers weighing approximately 530kg.  Most of the better shaped heifers sold 12c dearer to average 240.7c/kg.

Strong prices were reflected through the heavy grown steer and bullock market also. Heavy grown steer purchases were controlled by feedlots making from 340-368c while processors paid to 355c/kg. Bullocks gained 10c to average 240.5c/kg.

Young cattle suitable for the trade were few with domestic processors unable to match prices given by feedlots. A few steers which did sell to processors made 300-374c/kg. Trade heifers were unchanged making 320-370c/kg.

There was an increased supply of lighter weight steers and heifers offered suitable for restockers and feedlots. Northern restockers gave a master class in buying to feedlots a boat orders and local inquiry. Prices generally were pushed 30c higher making from 340-486c/kg. Lighter weight Hereford heifers weighing 268kg recorded a top price of 414c/kg.

Competition between feedlot buyers ramped up considerably and prices continued to strengthen as the market progressed. The most obvious gain in values was for feeder steers weighing 330-400kg with prices 14c higher. The better bred lines made from 330-412c/kg. The market for heavier feeder steers was stronger.  Well-bred Angus Steers with frame and condition were keenly sought reaching a top price of 412c to average 393c a lift of 12c/kg.

Cow prices also intensified and prices rose 10-12c across the board. Heavy cows made from 288c to 310c to average the equivalent of $1905. Leaner grades were keenly contested selling from 240c to 295c/kg. Store cows topped up 298c/kg.

To view full NLRS sale report click here

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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