Wagga Yards Market Report: Trends and Insights

Yarding Overview

The recent yarding saw an impressive count of 6,000 cattle, marking a decrease of 1,000 from previous weeks. This surge can be attributed to high numbers following last week’s public holiday, coinciding with a spell of intensely hot weather conditions. While the overall quality of the cattle varied, there was a notable availability of heavy cattle despite many trade cattle in the 400–500kg range being offered in limited quantities.

Market Dynamics

Most of the regular buying group was present at the sale; however, their participation levels varied. The market did not maintain the intensity observed two weeks ago, particularly as feedlot buyers took a more selective approach to secondary categories. Angus cattle remained a point of interest, albeit at reduced price levels.

Additionally, restockers showed a noticeable decline in activity, with fewer buyers ready to engage with feedlots and backgrounders. This was partly due to a surge in calves off cows under 200kg, driven by diminishing feed availability in certain regions. Notably, the top pen of 46 calves weighed 196kg and sold for an impressive 556c/kg.

Price Trends

Trade steers and heifers attracted a limited pool of processors, trading between 410–499c/kg. Lighter weight steers in the 200–280kg range saw a price drop of 48c, ranging from 365–518c to average $1,043/head. Meanwhile, feeder steers in the 400–500kg category eased by 7c, trading between 410–491c/kg, and lighter weights decreased by 24c, averaging 457c/kg.

Heavy Cattle Performance

A good-quality offering of heavy steers and bullocks incited considerable interest among processors, resulting in an uptick in prices for younger, well-finished steers. Heavy steers improved by approximately 17c, selling for 400–482c/kg, whereas bullocks experienced minimal fluctuations, ranging from 400–473c/kg.

Heavy feeder steers faced a smaller pool of feedlot buyers, leading to a 22c price drop, averaging 476c/kg. A mixed yarding of cows was presented, with all weights and grades available. Heavy cows decreased by 13c, falling within a range of 362–392c/kg, while leaner cows under 520kg displayed fluctuating trends; restockers provided a price floor for the younger types, with prices ranging between 315–367c/kg.

Conclusion

In summary, the Wagga Yards market exhibited a complex array of trends, influenced by varying quality, fluctuating demand, and weather conditions. Stakeholders are encouraged to monitor these developments closely to make informed purchasing decisions.

Market Reporter: Leann Dax

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