Markets

Wagga sale 4 May 2015: bigger numbers no effect on stronger market

Leann Dax, 05/05/2015

Wagga Wagga cattle numbers increased by 547 to 4,397 head and the bigger numbers had no effect in a stronger market.

Cattle prices strengthened again following on from the significant price surge the previous week, due to damp conditions and limited supplies.

The higher prices offered, caused a host of plainer conditioned weaners and yearlings to enter the market regardless of the favourable autumn conditions. The plainer selection did effect processors competition, but provided feedlot companies with more choice.

This was evident over lighter weight classes with the bulk of the weaner offering selling to feedlot orders. Lot feeder buyers and back grounders, dominated the market pushing light weight feeder prices 6c-11ckg higher. Well-bred young steers 330-400kg made from 255c-279.2c to average 272.7c/kg.

Prices for feeder heifers strengthened on the back of the smaller heifer offering. Medium weight heifers to feed on jumped 13c making from 246c-260c/kg. There were greater numbers of lighter weight heifers to feed on and they made from 220c-260c/kg lifting 9c/kg.

Restockers struggled to pay the higher rates and bidding was very selective with most store buyers operating in the 200-280kg weight range paying from 255c-273c/kg. Store steers were generally unchanged to a few cents dearer. Plainer steers returning to the paddock which lacked conditioned and frame ranged from 200c-225c/kg. There was a price variance based on breed and condition for store heifers and rates varied from 200-232c/kg, for the 200-280kg portion.

Bidding for medium weight trade steers intensified as domestic processors battled against feedlot buyers to acquire adequate supplies. After some impressive price spikes, medium weight steers topped at 285c to average 268.6c/kg. Once again domestic processors were forced to shift their focus to the heifer portion and buyers paid from 236c-273c/kg.

Vealer quantity dropped away, as traditionally occurs this time and year which pushed rates considerably higher. Vealers with finish and freshness jumped 9-13c to reach a top price of 282c/kg.

The seasonal shortage of export cattle was reflected in the bullock prices with the better quality pens selling 12c dearer making from 245c-281.6c/kg. Heavy grown steers 500-600kg was keenly contested by southern and local export processors which pushed prices 6c/kg higher to average 269.3c/kg. Heavy heifer prices strengthened with the better shaped pens selling from 240c-272c/kg.

The cow market continued to strengthen with prices 4c-5c dearer for higher yielding lines. Heavy cows made from 200-228c while good clean lean cows sold from 183c-214c/kg.

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