Markets

Wagga sale 4 Feb 2019: Restockers underpin demand

Leann Dax, February 5, 2019

Solid NSW and some Victorian restocker competition underpinned demand for weaner steers at Wagga Wagga on Monday.

Agents offered 4,300 cattle with the bulk of the offering more suited to lot feeding and restocking. Feedlot competition was the market drivers on the better finished lines of heavier cattle, while domestic processors struggled to acquire supplies owing to the higher prices and plainer quality

A high light of the sale was a step up in demand for well-bred weaner steers carrying weight and frame which caused bidding to intensify, as restockers and backgrounders battled for a market share. Well-bred weaner steers returning to the paddock 200-280kg jumped 30c/kg making from 220c-306c averaging $656/head.

Competition for feeder steers weighing above 330kg heated up with feedlots paying from 230c-298c/kg. The bulk of the feeder steers 400-500kg sold at 245c to 283c to average 268c/kg.

Angus heifers suitable to feed on met with stronger competition resulting in a dearer trend of 6c to 8c/kg. However Hereford heifers were generally well supplied but did not meet the strong demand from feedlot buyers. Opportunity buyers were out in force for plainer light weight heifers to return to the paddock and heifers weighing 200 to 280kg averaged 200c/kg.

The better finished steers 500 to 600kg were few and sold to lack lustre demand.  Prices ranged from 230c to 268c/kg. A Northern feedlot purchased the balance paying from 252 to 266c/kg.

Another wave of over 1100 cows hit the market with a fair percentage younger types who had exhausted their water supplies. Demand was strong overall weights and grades. Heavy cows gained 2c making from 188c-205c/kg.  Stronger competition across leaner grades helped lift the market 11c to 27c/kg, as processors and producers went head to head for the younger cows with plenty of frame. There were extra store orders in place with cows travelling as faraway as Tamworth to turnout. Prices generally ranged from 138c-214c/kg

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