Market Update: Significant Changes in Cattle Prices Following Rainfall

Current Yarding and Market Dynamics

Yarding: 3560 Change: -1615

The cattle market has seen a notable shift due to significant rainfall across the region. This downpour has impacted prices and overall market dynamics. Today’s secondary yarding noted a scarcity of well-finished trade or export cattle. While all trade and export buyers were present, not all actively participated in the buying process. Domestic buyers noted struggles against competitive pricing set by feedlots, leading to a reluctance to raise their price levels. In contrast, feedlots took the lead in the market, absorbing a large portion of the well-finished trade types available. Additionally, local restockers have been proactive, particularly in targeting lighter weight weaners and yearlings.

Price Changes for Cattle

Lightweight steers, weighing between 200-280 kg, observed a price uptick of 13 cents, now averaging $1353. The heifer segment also experienced a surge, increasing by 15 cents to average $1080 per head. Meanwhile, lighter feed steers remained stable, maintaining an average of 497 cents per kg. There was significant interest from various feedlots looking to acquire cattle over 400 kg, which led to a price lift of 15 cents. The majority of these cattle sold for between 445 to 522 cents per kg. Heavy feed steers, weighing 500-600 kg, saw an additional 7-cent rise, averaging between 452 to 495 cents per kg.

Cow Sale Insights

The cow sale demonstrated considerable variation in weights and grades, with restockers actively vying against processors for leaner types under 520 kg. Store cows varied in price, primarily selling for between 330 to 390 cents per kg. Heavy, well-finished cows remained robust, averaging 403 cents per kg. In contrast, leaner D3 cows under 520 kg gained 11 cents, with sales ranging from 368 to 399 cents per kg.

Market Commentary

Market Reporter: Leann Dax

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