Markets

Wagga sale 7 March 2016: Market loses some heat

Leann Dax, March 8, 2016

Supply lifted significantly to 4,660 cattle at Wagga on Monday. It was a typical summer yarding with the bulk of the yearling offering in secondary condition.

The red-hot market lost some heat this week with a general price correction over most categories. Processors and feedlots for the moment are not prepared to keep pushing the market upwards.

Feeder steers rates dipped 5c/kg as the dry hot conditions continue to put supply pressure on the market. Feeder steer sold to patchy demand at times, with rates touching firm for the better covered well-bred lines. Medium weight steers 400-500kg sold at 282-328c/kg/ Lighter weights topped at 333c to average 310c/kg.

The feeder heifer sales bounced around in early trade, before gaining momentum. Generally prices were back 7-9c/kg medium weight heifers made from 270-305c to average 295c/kg. The lighter weights were well supplied making from 274-305c/kg.

Weaner steers and heifers sold to a small group of restockers, with prices slipping back up to 30c for some categories. The light weight well-bred lines topped at 372c, while most other sales ranged from 290-344c/kg.

The national Livestock Reporting Service quoted vealers to slaughter 6-10c/kg easier. The best B muscled vealers still sold to a top of 325c for select butcher orders, while other calves made from 300-313c/kg.

Trade steers were few and prices eased back 10c due to the plainer quality. The better finished steers sold from 300-313c/kg.

One again buyers favoured the heifer portion with rates fully firm selling at 265-296c to average 289c/kg.

In the export market the shortage of well finished steers 500-600kg helped lift prices 6c, with the better young steers selling from 280-309c/kg. Bullocks were limited and prices remained firm selling at 272-307c/kg.

In the cow run numbers lifted and quality was mixed, with quite a tail to the offering. Not all major processors attended or operated fully. The better finished lines sold 8c cheaper selling from 218-240.6c/kg. Leaner grades struggled to attract all buyers and prices faded 17-21c/kg. Store cows were at times keenly contested making from 192-214c/kg.

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