Lighter weight weaner cattle in general hit a brick wall as pressure from the ongoing dry weather wiped significant money from all categories.
A lack of buyer support and higher feed grain prices saw most categories take a hit of 10-40c depending on condition and weight.
Prices were fuelled by better feedlot and restocker competition, after some rain in the north and local area.
Extremely dry conditions and plainer quality eroded prices in a reduced yarding of 3,200 cattle at Wagga. The market opened weaker on the back of last week’s cheaper trends.
Even with a shortage of export cattle the market lacked competition from major export processors causing the market to slide 12c/kg. The cheaper trend was obvious at the commencement of the sale with only two processors operating fully.
Cattle markets in the past week have been somewhat erratic and Wagga experienced the same fluctuating price trends, depending on quality and competition.
Weaker feedlot competition across all categories was the catalyst for the cheaper trends. Major feedlots from Victoria NSW were operating, but some sporadically preferring well-bred lines of Angus cattle.
Recent rain inspired restockers and feedlots who had the greatest influence over most categories. Weaner steers back to the paddock sold 6-22c/kg dearer. Steers weighing 330-400kg benefited from the strongest demand with store buyers who payed from 332-392c to average $1358.
Even with a shortage of heavy export cattle the market lacked competition for bullocks, with prices wound back 10c/kg to average 316c/kg. Top quality younger lines of heavy grown steers 500 -600kg to slaughter lifted 6c with the grain assisted portion helping drive the market higher. The bulk of the better finished steers sold from 300-338c/kg.
There were weaker results for prices at Wagga in a similar sized yarding of 3700, as dry conditions continue to put supply pressure on the market.