CATTLE prices at Wagga have continued their downward winter run, losing a further 10-65c/kg liveweight this week.
Most classes of stock were quoted cheaper by the National Livestock Reporting Service thanks to a mix of weak processor competition, lacklustre demand from processors’ customers and, restockers on the sidelines appearing rattled.
Lightweight weaner cattle returning to the paddock were on a price roller-coaster as volatility hit the cattle market. Prices retreated 30- 65c, with restockers reluctant to make purchases preferring to sit on the sidelines. The bulk of the lighter-weight steers sold from 270-330c/kg.
There was another price correction for feeder steers of 17-18c/kg. Not all feedlots operated and buyers worked on a price of 270c up to 320c/kg for the top pens of Angus steers.
It was more of the same for feeder heifers although they did find some support along the way. Light weights slipped 13c to average 275c while heavier heifers sold 3c cheaper making from 275-299c/kg.
Trade steers and heifers were in greater numbers with more coming forward off crop. Even though the finish of cattle was excellent, buyers were reluctant to enter the fray, often buying cattle in one or two bids. Medium-weight trade steers slipped 11c topping at 312c, while the heifer portion dipped 9c to average 275c/kg.
Vealer was in reasonable numbers and buyers discounted quality vealers suitable for the trade 15-18c /kg. European veal and their crosses sold at 280-325c/kg.
Bullocks were the only highlight in the sale with rates lifting 14c, for 100-day grainfed portion. Prices ranged from 280-304c/kg. Despite a run of excellent 100-day grainfed steers 500-600kg, domestic processors were not enthused and prices drifted 6c to average 285c/kg.
The tightening supplies of cows kept price close to firm to 5c cheaper. Heavy cows made from 238-253c. Leaner grades sold at 205-240c.