Markets

Wagga sale 7 Mar 2017: Hot, dry conditions fuel supply pressure

Leann Dax, 07/03/2017

There were mixed results for prices as the dry and hot conditions continue to put supply pressure on the market.

Young secondary cattle returning to the paddock generally experienced a further 9c/kg price correction at Wagga on Monday when agents penned just over 4000 head.

Plainer cattle bore the brunt of the cheaper trend with buyers discounting mixed breeds up to 49c/kg. Well-bred steers 280 to 320kg sold from 282c to 358c to average 351c/kg the equivalent of $1025/head. Light weight straight bred weaner steers 200-280kg were in short supply and they made from 274c to 368c/kg. Very plain-quality heifers sold down to 265c, while the better conditioned heifers returning to the paddock ranged from 294c to 358c/kg.

The feeder steer market showed solid resilience to any downside last week, but still eased back a few cents a kilogram. Demand for quality steers and heifers were evident with prices touching firm throughout the sale. A total of 400 steers weighing 400-500kg purchased by various feedlots sold to a top of $1634 and averaged $1463. Medium weight heifers to feed on were in shorter supply selling from 285c to 320c/kg.

Trade weight steers sold to sporadic competition from domestic processors and select butcher orders, with prices unchanged to a few cents cheaper. Medium weight trades steers averaged 327c and topped at 347c/kg. Trade heifers sold 8c cheaper with several processors not prepared to push the market. The bulk of the heifers sold at 285-321c/kg.

The best trade price was 375c/kg recorded for prime light weight milk vealers but such sales were isolated, the bulk of the better milk calves selling from 318c to 358c/kg.

Export cattle sold to weaker competition with prices slipping 7c/kg. The better finished heavy grown steers and bullocks made from 285c to 313c with bullocks over 600kg averaging 290c/kg.

The cow market continued to tread water with prices softening 3c to 7c/kg. Heavy well finished cows sold from 228c to 245c/kg. Leaner grades made from 195 to 228c/kg. Store cows rates slipped 5-8c selling from 178c to 266c/kg.

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