Markets

Wagga sale 4 July 2016: Nth NSW restockers drive market higher

Leann Dax, 04/07/2016

Wagga Wagga cattle numbers increased by 755 to 4400 and the bigger numbers did impact the market over some categories.

Store cattle prices strengthened again following on from the significant price surge the previous week, due to stronger competition from Northern NSW restockers.

The higher prices offered last week, caused increased supplies of plainer conditioned weaners and yearlings to enter the market. The plainer selection did effect processors competition but provided feedlot companies and restockers with more choice.

This was evident over lighter weight classes with the bulk of the weaner cattle prices reinforced by stronger restocker demand. Steers suitable to feed on were unchanged to a few cents cheaper. Well-bred young steers 330-400kg made from 328c-380c to average 355c/kg. The medium weight steers 400-500kg slipped 7c fetching 322c to 377c/kg.

Prices for lighter weight feeder heifers were unchanged given the restricted numbers suitable for feedlots. Medium weight heifers 400-500kg to feed on jumped 16c owing to a new order in play. The better covered heifers topped at 348c to average 336c/kg. There were greater numbers of lighter weight heifers under 300kg to feed on and they made from 320c-346c/kg.

Numerous store orders pushed rates higher on well-bred lines, while bidding was more selective for crossbred types. Store steers were generally unchanged to a few cents dearer. Steers returning to the paddock 200-280kg with frame ranged from 340c-404c/kg to average $922. There was a price variance based on breed and condition for store heifers and rates varied from 333-368c/kg, for the 200-280kg portion

Bidding for medium weight trade steers weakened as domestic processors battled feedlots to acquire supplies. After some price spikes, medium weight steers topped at 355c to average 339c/kg. The heifer portion lacked the quality of past weeks and prices slipped 7c, with the better finished lines making from 313c-345c/kg.

Vealer quantity dropped away, as traditionally occurs this time and year which pushed rates 4c higher for the better finished types. Vealers with finish reach a top price of 370c/kg.

The seasonal shortage of export cattle was reflected in the bullock prices with the better quality pens selling firm making from 295c-338c/kg. Heavy grown steers 500-600kg was keenly contested by southern and local export processors which cemented a floor in rates, however prices did ease 7c/kg to average 336c/kg. Heavy heifer prices weakened with the better shaped pens selling from 285c-336c/kg.

Four processors were absent from the cow market impacting on rates. Prices generally softened 17-29c/kg. Heavy cows made from 240-275c while good clean lean cows sold from 188c-251c/kg

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