Wagga sale 15 May 2023: Market loses momentum

Leann Dax, 15/05/2023

Yarding 2900 Change -600

Despite a shortage of export cattle the market lost momentum this week, with heavy export steer prices slipping by up to 37c/kg. The cheaper trend was obvious at the commencement of the sale with top quality younger lines of heavy grown steers 500 -600kg lacking buyer support. Bullocks were limited with only 109 head penned to average 282c/kg. The better runs of young heavy steers consistently made from 288c-320c/kg.

Heavy export  heifers weighing 500-600kg tumbled up to 50c/kg. Most of the better shaped pens selling from 220c to 273c/kg.

The trade market experienced a sharp decline in rates reaching lows not seen for a couple of years. Medium weight grass finished fell 67c with domestic buyers paying to a top of 384c/kg. The better finished steers made from 300c-358c/kg. There was little demand for trade heifers which caused rates to fall back 36c/kg. The biggest influence on the price fall was caused by weak feed lot competition.

Another market to experience a fall was for well-bred feeder steers where prices contracted 15c/kg.  The bulk of the  secondary yearlings offered sold to patchy demand as the sale progressed. Medium weight feeder’s steers topped at 373c to average 332c/kg.  Lighter weight feeder heifers 330-400kg was in weak demand slipping 30c  making from 250c-330c/kg.

There was good numbers of lighter weight store conditioned weaners, which struggled to inspire restockers. There were huge flat spots in the market with steers 200-280kg constantly making from 250c-340c/kg to average $667. Light weight heifers returning to the paddock made from 237-290c/kg.

The cow market opened on a weaker note with rates 15-30c lower. Well finished cows sold from 230c-268c/kg.  Southern export companies were not prepared to chase the market resulting in a cheaper trend of 15c/kg for well finished types. A run of leaner cows made from 150-210c/kg.

Market reporter: Leanne Dax

Source: NLRS Click here to view full Wagga report on NLRS website.


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