Wagga Saleyards Market Update

Market Overview

Yarding: 2,600 Change: +560

The latest market report from Wagga Saleyards indicates a notable increase in cattle numbers, largely influenced by recent upward price trends. While the overall quality of the cattle was predominantly on the lower end, there were still limited quantities of well-finished stock available across different weight classes. Notably, competition from feedlots has become a deciding factor in elevating the market prices for steers. Domestic and export processors found it challenging to keep pace with purchasing demands, as feedlots began to dominate the bidding process, frequently outpacing other buyers.

Details on Prices

Prices for lighter-weight steers returning to paddocks reflected softer trends, particularly impacting those in the 200-280 kg range, which averaged $1,173 per head—a decrease of 22 cents per kilogram. In contrast, a limited number of heifers and steers suitable for trade commanded prices between 410 to 508 cents per kilogram, signifying a market adapting to shifting dynamics.

Feeder steers weighing between 330-400 kg saw a minor increase of 7 cents, with prices ranging from 482 to 540 cents per kilogram. Feedlots were especially eager for steers in the 400-500 kg category, with prices rising by 20 cents per kilogram, achieving sales within the same range of 482 to 540 cents.

Heifers in Demand

The availability of feeder heifers was reasonable; however, certain weight categories experienced softening prices due to buyer hesitance. Heifers in the 330-400 kg bracket sold for an average of 14 cents lower, landing between 380 and 498 cents per kilogram. Conversely, medium-weight feeder heifers gained traction thanks to heightened competition, selling firm to slightly dearer, with the majority going for 464 to 508 cents.

Export Market Insights

In the export sector, feedlots continued to lead, particularly for heavy grown steers and bullocks priced between 400 and 475 cents per kilogram. Heavy steers designated for feeding achieved impressive prices ranging from 468 to 530 cents per kilogram. The supply of heavy cows was limited, prompting a price increase of 15 cents, with sales settling between 378 and 419 cents per kilogram. Leaner cows weighing under 520 kg were priced between 266 and 379 cents per kilogram, reflecting the varying levels of demand across cattle categories.

Market Reporter: Leann Dax

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