Cattle prices at Wagga were generally weaker in a similar sized yarding of 3600. The market is facing pressure from plainer quality and bigger numbers at other selling centres due to the dry conditions.
Changes to feeder cattle prices in the past few weeks show how the market is still struggling to find a balance between supply and demand. There were fewer orders this week and prices dipped 18c for lighter steer weights 330-400kg to make from 242-303c/kg.
There were signs that restockers have faith and are prepared for the moment to push prices upwards by 5-18c/kg
Bidding for cattle in a smaller yarding at Wagga of 2,485 became more selective as pressure mounts from the hot summer and easing export beef prices.
Bidding remained erratic, with restockers still unsure of opening price trends in 2018. Light weight steers back to the paddock were hardest hit, with rates falling 45c for the 200-280kg weight range. The bulk of the lighter weight steers made from 252-358c/kg.
The Wagga prime cattle market gave the first indication of price trends for 2018 in New South Wales, and saw cattle prices lift over some categories in a yarding of just over 2300 head.
Numbers more than halved at Wagga for the last market prior to the Christmas holiday break. The looming abattoir closures and very few processors operating caused a significant price correction across trade and export categories.
Numbers doubled at wagga with agents yarding 4,800. The surge in supply resulted in lower prices across most categories.
Restockers and feedlot demand on the back of wet weather and limited supplies had the greatest influence over the market.
Export prices continued to soften this week with one major processor buying the bulk of the offering.