Markets

Wagga sale 7 Sep 2015: Restockers pay up to 350c for Angus steers

Leann Dax, 08/09/2015

Young secondary cattle prospects remained solid, but trade and export categories sold to cheaper price trends at Wagga in a yarding of 3,350 head.

The market developed the wobbles this week but store prices remained solid. Many of the feature lines of secondary weaner steers and heifers 200-320kg achieved premium prices and were rewarded for being weaned.

On the back of follow up rains restocker confidence was high, with store orders in place from Elders Naracoorte, AJF Obrien Coonamble Goulburn along with local inquiry. Angus steers returning to the paddock topped at 350c to average 331c or $1029.20. Meanwhile demand for straight-bred light weight black heifers continued their popularity and topped at 316c or $934.

Feeder Feedlots operated with more caution this week as there were increased numbers of floppy eared stock. Well-bred secondary steers were 2- 5c easier making from 308-346c/kg. Secondary heifers suitable to feed on were in short selling 2c/kg dearer fetching 305-316c/kg.

A lower Australian dollar rain and tightening supplies could not prevent prices tumbling 10-22c/kg, across trade and export categories

Not all major trade buyers were present this week which impacted upon values by as much as 22c/kg. Demand was significantly weaker for medium weight trade heifers 400-500kg and the better finished pens of supplementary fed failed to attract all processors. In general medium weights fell 22c making from 285c-323c/kg. The lighter trade weight supplementary fed heifers performed well selling from 310-335c/kg.

Well finished trade steers were in short supply and prices bounced around depending on who was buying. The best of the trade steers made from 330-345c easing 10c to average 339.5c/kg.

There has been an undercurrent of thought amongst processors and agents there was a price correction looming for heavy grown steers and heifers with values rising sharply the previous sale. Heavy grown steers 500-600kg sold 21c/kg cheaper making from 302c-335.6c/kg. Heavy bullocks were limited selling unchanged to 2c easier to average 324c/kg.

Heavy heifers lacked the quality of the previous sale and prices dropped significantly with the better shaped heifers 500-600kg making from 280-295c/kg. Heavy bullocks were in limited supplies selling unchanged to 2c easier averaging 324c/kg.

Cow prices opened weaker, with sales 7-13c cheaper. Heavy cows made from 252-275c to average 262c/kg. Leaner grades were notably plainer than the previous week making from 215-267c/kg.

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