Markets

Wagga sale 30 Nov 2015: Smaller yarding fuels rate rise

Leann Dax, 01/12/2015

At wagga numbers dipped moderately to 3,985 cattle.

Reduced numbers help fuel another rate rise for secondary cattle on Monday. Prices for most young cattle stepped up another 5-10c with some categories spiking 20c/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 back-ground 200-320kg jumped 20c and more in places with a top price of 349c/kg recorded for Angus steers.

All categories of steers in the feeder market experienced a jump in prices of 5-6c, with the bulk of the yearling offering selling to feedlots. Medium weight feeder’s steers topped at 332.2c to average 318c/kg. Lighter weight feeder steer 330-400kg was keenly sought making from 295c-341c/kg.

Lighter weight feeder heifers 330-400kg was in high demand selling 20c dearer with a new feeder order late in the sale pushing prices up to 315c/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 300c-356c/kg to average $999. Light weight heifers returning to the paddock firmed 2c making from 273c-304c/kg.

The trade market experienced a lack of competition from domestic processors, as buyers struggled to compete against the higher rates offered by feedlots. Medium weight grass finished heifers to slaughter eased 8c reaching a top price of 288c to average 277c/kg. The better finished steers mostly sold to feedlots with the plainer steers to kill making 280c-300c/kg.

A shortage of heavy export cattle didn’t help the market, with prices easing by 3- 7c/kg. The cheaper trend was obvious at the commencement of the sale with top quality younger lines of heavy grown steers 500 -600kg mostly selling to feedlots topping at 318c/kg. The steer portion to slaughter made from 268-295c averaging 285c/kg. Bullocks were limited and very few sales lifting above 290c/kg. Prices consistently ranged from 268-290c with the odd pens selling to 293c/kg.

 

The cow market opened on a weaker note with rates 4c-8c lower. Well finished cows sold from 225c-254c/kg. A run of leaner cows made from 218-240c while plainer types sold from 205-224c/kg.

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