Wagga Cattle Market Update: Increased Supply and Price Fluctuations

Yarding: 5085 Change: -670

Market Overview

Following the recent public holiday, the Wagga cattle market experienced a noticeable uptick in cattle numbers. This influx has introduced a diverse mix of quality to the market, notably with lighter-weight young cattle appearing more wintery in condition.

Quality Variations

Despite the varied quality, some standout pens featured exceptionally well-finished cattle, benefitting from crop or grain assistance. However, competition for these high-quality offerings has been somewhat unpredictable, particularly for coloured cattle, which have seen prices dip by up to 20c/kg. This reduction has provided opportunities for restockers eager to seize the lower prices, though not all export companies participated actively in the sales, causing inconsistencies in the feeder steer market.

Trade Cattle Performance

For trade cattle, demand was strong, especially for the preferred types. Trade steers and heifers sold between 374c and 430c/kg. The feeder steers market demonstrated significant fluctuations, with some breeds commanding premium prices. Lighter weight feeder steers traded within the range of 356c to 460c, averaging an increase of 32c to $1594/head. Meanwhile, medium-weight feeder steers saw minimal changes, being priced between 370-464c/kg with slight increases up to 5c.

Feeder Heifers and Restocker Opportunities

In a noteworthy trend, the feeder heifer market gained momentum, increasing by 15-35c/kg, with most heifers selling for between 330-419c/kg. Conversely, lighter weight steers aimed at restockers struggled for consistency, with better-quality types fetching prices between 330-452c/kg. Additionally, heifers returning to pasture sold for prices ranging from 255-380c/kg.

Export Market Insights

In the export sector, young, heavy, well-finished steers suitable for processing were in short supply. Heavy steers weighing between 500-600kg sold for 380-388c/kg. Aged bullocks, however, faced discounts, contributing to a decline of 35c/kg in prices, with bullocks selling from 335-385c/kg.

Cow Market Analysis

The cow market exhibited quality variations across all categories. Heavy cows gained a modest improvement of 7-8c, averaging 326c/kg, while leaner cows beneath 520kg with some cover were priced between 222-294c/kg.

Source: NLRS Click here to view the full Wagga report on the NLRS website.