Wagga sale 8 Nov 2016: Restockers less eager to push prices higher

Guest Author, 08/11/2016

Wagga agents tendered a similar sized yarding of only 3,700. Price did fluctuate throughout the sale dependent on who was buying.

Looking at the bigger picture there were signs that restockers were not prepared for the moment to keep pushing prices upwards.

Like the season some cattle offered had been set back by cold wet conditions earlier on, while other lines were in forward store condition showing freshness. Weaner steers consistently sold from 324c-410c and up to 413c, for the lighter weights equating to $826.

It was a good result for weaner heifers returning to the paddock given the view quality was quite mixed. Prices rose 3c for well-bred lines weighing 280-330kg to average 355c/kg.

The bulk of the yearling cattle offered sold to feedlots, with reasonable numbers selling to domestic processors. Trade heifers were unchanged making from 286-349c/kg. There were good numbers of yearling steers which met trade specification; however the bulk once again sold to feedlot orders. The better finished pens made from 315-375c to average 341c/kg.

Apart from a few standout lines the feeder steers the market was mostly firm. Medium weight steers 400-500kg made from 315-364c, while the lighter weights 330-400kg sold from 320-388c to average 359c/kg.

There were reasonable numbers of well-bred secondary heifers which met stronger demand from feedlots. Increased competition from the south pushed prices 6c/kg higher. Heifers 330-400kg was keenly sought making from 305c-381c/kg.

The export market lacked feedlot competition and prices for steers 500-600kg firmed as the sale progressed. The better finished pens made from 290-344c/kg. Bullock rates on the back of tight supplies lifted 5c/kg. Heavy bullocks sold from 280-322c/kg.

There was increased buying competition from the north in the cow market and this helped drive rates up 4c higher. Leaner grades sold from 202-248c/kg. High yielding beef cows were keenly contested by a larger field of buyers which contributed to a slightly dearer trend of 2c /kg. Heavy cows made from 228-258c/kg.


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