PRICES at many store cattle markets of late, have been better than fat sales, and for some steers, higher than selling direct to a feedlot.
Not surprisingly, MLA’s Eastern States Feeder Cattle Report has indicated a long awaited rise in prices for sales of steers direct to feedlots.
Interestingly, Angus steers rose three cents per kilogram liveweight, while other breeds were 15c/kg higher.
Some of the increased need for feeder steers was seen at Wagga Wagga, Monday, where the pseudo store sale of over 1500 yearling steers, sold mostly to feedlots and restockers with prices gaining 4-15c/kg.
Processors purchases where not as dear as the previous week, on average. Some of the lack of enthusiasm was due to all markets operating after the Melbourne public holiday, last Tuesday.
Supply at Wagga Wagga was down a moderate 100 head, but with the return of Pakenham’s Monday market, the yarding of 1270 head included a large percentage of heavy steers and export bullocks.
Prices for a larger supply of vealers were firm to dearer, and combined with restocker and feeder steer activity, the EYCI remains high at 578c/kg, Monday.
Victoria’s Western District, plus the south east of South Australia, are cranking up supply, which is normal for the time of year.
So far this week, the quality, and weight of cattle offered has lifted, thanks to the very good season.
However, Wodonga and Shepparton were the surprise packages with supply more than doubling to 2300 head and 2200 head respectively. Quality was very good here too, but prices fell away dramatically. Vealers averaged 15c cheaper, yearling steers 13c, and heifers over 20c/kg cheaper. Bullocks fell 14c/kg on average.
Vealers sold to a top of 337c, most 300-325c/kg, and prime bullocks mostly between 265&284c/kg lwt. Bullock prices fell between 20 & 30c at Shepparton, peaking at 276c/kg lwt.
Will this affect supply next week? It is very likely, but equally, if this predicted rain pattern covers as much of central Australia as indicated, supply across the Eastern Seaboard will definitely fall. Cow supply was larger because of Pakenham, and Camperdown, returning after the public holiday last week. This gave processors more opportunity, but equally, there was compensating demand. Prices did vary between the different sales, and although some were cheaper, others were dearer, to average mostly unchanged.
A cull of beef cows has commenced, leading up to the weaner sales. Prices for the better beef cows were from 230-258c with most to 248c/kg. Leaner dairy cows sold mostly from 185-228c/kg lwt.
