Another week of mixed quality, but also mixed supply trends was seen. I was surprised to see Forbes, NSW, agents have a market, let alone offer more than 700 cattle. Going by the footage seen on television, I was amazed anyone could get near the saleyard.
However, they did, but the general lack of supply, especially for this time of year, continues to see solid prices paid. Export processors don’t want to be paying the current prices, and in fact some have reduced their prices for direct sales.
Local processors and retailers have no choice but to pay market price, as they can’t sell meat if they don’t have any in the chiller. While feedlots are trying to reduce their exposure into the next few months, restockers are champing at the bit to secure cattle for the peak spring growth period.
Analysing market reports can be confusing, as at times some of the smaller markets suffer under the lack of supply. Because processors are trying to reduce prices, some of the small offerings don’t attract the best competition. There is no ill intent here, but the lack of significant numbers to fill trucks can be a deterrent.
Not so at Pakenham, where proximity to abattoirs does make a difference. This market offered a reduced supply of only 662 head, Monday, but there was a number of very good quality cattle penned. Heavy yearling and grown steers sold from 380-400 cents per kilogram liveweight, which was a very good result.
Wagga Wagga offered 2800 cattle, 800 more, and Wodonga, over 400 more than the previous week. While this did some small opportunity for some lower prices, generally they were equal to dearer.
Vealers remain scarce and prices were mostly from 385-420c/kg lwt. Outside of the better quality vealers, feedlot and restocker competition took up the slack, paying up to 467c/kg for young steer calves.
Leongatha, last Wednesday, saw numerous pens of high quality bullocks offered, weighing from 550-720kg. These sold very well making from 345-372c, while prices were as high as 378c/kg lwt at Wodonga, Tuesday.
One item of note from Leongatha last week, was grown steers and bullocks being purchased for slaughter in Tasmania.
Still selling very well are manufacturing steers and bullocks with Friesians selling mostly from 275-320c/kg, and crossbred bullocks up to 350c/kg lwt.
Despite the extremely wet conditions in the Riverina, demand from restockers was very strong, purchasing a large percentage of the yearlings at Wagga. Prices paid were between 370 and 432c/kg for steers, and 350-413c/kg for heifers.
Competition for cows remains high, despite export prices at reduced levels. Very lean, poor condition cows sold well in some sales, making mostly from 185-235c/kg, which was dearer. Better quality cows were mostly unchanged from 275-302c, and other dairy cows mainly for 240-270c/kg.
Demand for lean 95CL bull beef kept prices high with many sales from 270-312c with isolated sales over 320c/kg lwt.
