Stronger trade competition pushes prices higher

VENDORS sold 1460 cattle at the Wagga market on Monday.

According to Meat and Livestock Australia's National Livestock Reporting Service not all of the regular export buyers were in attendance.

STORE PENS: A file image from the Wagga Livestock Marketing Centre.

STORE PENS: A file image from the Wagga Livestock Marketing Centre.

The usual contingent of domestic and feedlot buyers was operating along with the occasional restocker.

Restockers found the going tough with very few light weight cattle offered.

Steers suitable for the trade were unchanged in price to average 415c, with a single pen of European steers recording a top price of 425c/kg.

Trade heifers sold to significantly stronger competition benefited by robust demand from lot feeders.

The stronger competition meant prices bounced 13c making from 362c to 434c/kg.

There was a notable strengthening of prices for feeder steers 400-500kg, with prices surging ahead 10c to 15c to average 419c/kg for the medium weights.

Feeder heifers regained jumping 15c to average 403c/kg for the medium weight portion.

Not all processors operated in the export run.

Heavy weight steer and bullock prices gained 9c to 19c/kg. Heavy steers made from 360c to 410c, while bullocks averaged 382c/kg.

Heavy weight heifers were well supplied, with the bulk making from 340c to 390c/kg.

In the cow market not, all processors operated fully.

Heavy weight well finished cows sold to slightly stronger trends making from 292c to 320c/kg.