Markets

Wagga sale 7 May 2018: Restockers wary despite rain

James Nason, 08/05/2018

Wagga agents tendered a bigger sized yarding of just over 5,700. Price did fluctuate throughout the sale dependent on who were buying and the quality of stock.

Looking at the bigger picture there were signs despite receiving rain over the weekend that restockers were not prepared for the moment to push prices upwards. Like the season some cattle offered had been set back, while other lines were in forward store condition showing some freshness. Weaner steers consistently sold from 255c-299c, for the lighter weights equating to $677

The bulk of the yearling cattle offered sold to feedlots, with limited numbers selling to domestic processors. Trade heifers were 10c dearer making from 220-270c/kg. There were very few yearling steers which met trade specification; however the bulk once again sold to feedlot orders. The better finished pens to slaughter made from 280-285c/kg.

Apart from a few standout lines the feeder steers the market was mostly 7c/kg cheaper. Medium weight steers 400-500kg made from 265-294c, while the lighter weights 330-400kg sold from 344-293/kg.

There were reasonable numbers of well-bred secondary heifers which met fluctuating demand from feedlots. Weaker competition from both southern and northern feedlots saw rates dip 5c/kg higher. Heifers 330-400kg sold from 230-272c/kg.

The export market lacked feedlot competition and prices for heavy steers and bullocks firmed as the sale progressed. The better finished pens made from 255-285c/kg.

There was an almost full field of buyers at the cow market. Demand weakened over all classes. Heavy cows slipped 10c making from 177-202c/kg. Leaner grades lacked yield according to processors and prices came off 10c/kg. Leaner grades sold from 125-176c/kg. Plainer types sold at 76-120c/kg. Store cows consistently ranged from 120-176c/kg.

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