Markets

Wagga sale 6 Jul 2015: New fiscal year triggers supply influx

Leann Dax, 07/07/2015

The new financial year caused an influx of cattle at Wagga Wagga yesterday and the price rally was maintained. Agents yesterday yarded 5425 just over 1050 more than the previous week.

Rates generally for better finished cattle to slaughter climb 6-8c higher. However prices did fluctuate for grain assisted cattle, with rates 10c dearer for the neater well finished medium trade weights

Medium weight steers to the trade topped at 336c or equivalent of $1646.00 to average 316.6c/kg. There were also signs of producers moving to take advantage of last week’s price spike, with more unfinished heifers offloaded. Well finished heifers sold to the trade from 282-326c to average 300.5c/kg. Plainer shaped heifer lacking finish sold mostly to manufacturing making from 185-212c/kg

The supply of sappy milk vealers for the trade was marginal with the National Livestock Reporting service suppling a price quote for just on 62 head. The better finished calves made from 292-315c/kg.

A highlight was heavy grown steers which lifted a further 10c selling to a top of 344c to average 308.4c/kg. Heavy bullocks were also keenly contested from southern export processors making from 255-326c/kg.

Strong local and feedlot competition underpinned light weight heifer prices and local restockers paid from 276-310c/kg for well-bred lines. Feedlots paid slightly less, prices ranging from 288-309c/kg. Light weight steers returning to the paddock jumped 15c selling from 260-310c to average 294.2c/kg.

Feedlot competition was strong and rates strengthened as the market progressed. Major feedlot buyers paid premium rates for Angus steers which contributed to a dearer trend of 3-4c/kg. Secondary steers 400-500kg made from 278c-322c/kg. The lighter weight portion 330-400kg ranged from 270-329c/kg.

Cow numbers increased to 1,300 and all weights and grades were represented in a very mixed yarding. Southern export processors were the market drivers lifting rates 10-15c/kg. Heavy well finished cows sold from 216c-258c/kg. Leaner trade type cows were keenly sought averaging 240.7c/kg. Plainer cows suitable for 90CL (grinding beef) orders made from 162-230c/kg.

Click here to view NLRS sale reports from around Australia in Beef Central’s markets section

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