Markets

Wagga sale 4 Jan 2016: Rain-inspired restockers boost market

Leann Dax, 05/01/2016

There were some excellent prices at Wagga market as rain put pressure on supply, with only 2,240 yarded on Monday.

Rain inspired restockers from the north along with local competition which combined to lift store cattle prices 18-27c/kg. Light weight straight bred weaner steers 200-280kg were in short supply and they made from 300c to 347c/kg. Plain-quality steers sold down to 280c, while the better conditioned heifers returning to the paddock ranged from 231c to 295c/kg.

The feeder steer market showed solid resilience to any downside prior to the Christmas break. Demand for quality steers and heifers was evident, with steer prices firm to 10c dearer. A total of 334 steers weighing 400-500kg purchased by various feedlots sold to a top of $1525 to average $1400. Medium weight heifers to feed on were in shorter supply and prices bounced 19c selling at 280c to 317c/kg.

On a positive note, most of the better trade weight cattle sold to keen feedlot competition. Domestic processors were subdued and very select when making purchases. Medium weight trades steers averaged 279c while the heifer portion sold from 250c to 280c/kg.

The best trade price was 312c/kg recorded for prime milk vealers but such sales were isolated, the bulk of the better milk calves selling from 270c to 310c/kg.

Export cattle sold to steady competition however not all buyers were active and, prices were generally unchanged to a few cents dearer in places. The better finished heavy steers made from 266c to 280c/kg.

The cow market continued to tread water following on the same downward trend prior to the Christmas holiday break. Prices dropped 8c-14c/kg with heavy well-finished cows selling from 205c to 225c/kg. Leaner grades fell up to 17c fetching from 156-220c/kg.

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