Wagga Cattle market yesterday, ouch!CommentaryThe hot dry autumn...

Wagga Cattle market yesterday, ouch!

Commentary

The hot dry autumn led to a much larger yarding of 6000 head. Cattle prices slammed on the brakes as processors and feedlots operated at significantly lower levels than before. All the usual buyers were at the market and all were active. Quality as fair to good with some very good lines of well bred steers and heifers. Notably there was very few cattle under 500kg to suit domestic processors which distorted price trends.

The cow market took the hardest hit, with heavy cows dropping by 40c to 45c, while leaner grades faced a correction of 50 to 70¢/kg. Heavy cows sold from 208c to 227c/kg.

Heavy export steers and bullocks tumbled by 22c to 28c/kg, but additional buying orders just before lunch helped steady the market. Prices for heavy steers and bullocks ranged between 214 to 312c/kg. It must be noted that steers with horns and despite being well finished, were severely discounted by processors. Heavy feed steers 500 to 600kg prices improved slightly as he sale progressed but remained 22c cheaper. Feeder steers in all categories slipped by 40c to 60c, with lighter weights being hit the hardest and showing a huge price variance. Medium-weight steers sold between 245c to 344c/kg, averaging $1354 per head.

Feeder heifers felt the brunt of the cheaper trend too, slipping by 40c to 57c/kg, with lighter weights averaging $850.

Light weight weaner steers back the paddock sold 20c cheaper but on average a good steer was picked up by buyers between $700 and $800/head with steers exceeding this range very few.