Feeder buyers drive the market in NSW North West slopes
10 December 2015
The North West slopes of NSW received reasonable rainfall over winter, with the higher soil temperatures promoting better pasture growth than in the Northern Tablelands. However, the season has deteriorated over recent weeks with the recent hot and dry weather.
Yardings at Gunnedah during November eased only 2% year-on-year, following large year-on-year reductions over recent months. Tamworth recorded an increase in throughput of 32% year-on-year, as dry weather and the high cattle prices influenced selling decisions.
Quality of the cattle yarded has been of a relatively high standard, however very few well-finished lines have been consigned. This, along with the availability of crops and grain, has led to a substantial increase in feeder purchases – the market share of feeders during November was 16% higher than year-ago levels. The proportion purchased by processors and restockers both fell by 8%. Local restocker activity has been limited due to the season, although competition from both feeders and processors has kept the market buoyed, especially during the last 6 months, with prices averaging almost 330¢/kg lwt.
Prices recovered much of the drop that was seen during October and peaked again at the beginning of November. This week;
- C2 medium yearling steers to feed at Gunnedah eased 11¢, selling between 294.2¢ and 335.2¢, and averaging 320.2¢, while those at Tamworth were 3¢ dearer on 327.2¢/kg lwt.
- Medium weight C2 yearling heifers to feed at Gunnedah averaged 307.5¢, back 8¢, while those at Tamworth were 4¢ dearer on 313.1¢/kg lwt.
Join myMLA today
One username and password for key integrity and information Systems (LPA/NVD, NLIS, MSA & LDL).
A personalised online dashboard that provides news, weather, events and R&D tools relevant to you.
Customised market information and analysis.
Already registered for myMLA?