Market Update: Wagga Yards See Significant Activity

Current Yarding Trends

Total Yarding: 4,585 Change: +1,025

The recent market reports indicate a notable increase in livestock numbers across various categories, reflecting the solid outcomes of the previous sale. Although the overall quality of the livestock was often secondary, the market showcased a scarcity of well-finished cattle, particularly in the trade and heavy export classes. Feedlots assumed a dominant position once again, significantly absorbing the existing stock. Additionally, restockers exhibited strong interest in lighter-weight steers and heifers, while various export and domestic buyers participated in the sale, albeit with varying levels of competition.

Price Insights

Interest from processors for vealers was robust, with prices oscillating between 430-494c/kg. However, demand for trade cattle in the 400-500 kg range waned due to limited availability and heightened demand from feedlots. Heifers deemed suitable for trade were in short supply, selling between 424-464c, marking a decline of 22c/kg.

Conversely, competition for feeder steers remained buoyant, resulting in a slight uptick in prices for medium-weight steers, which predominantly sold within the 440-535c/kg range. Conversely, the bidding for feeder heifers demonstrated erratic patterns, leading to a decline of 20c for lighter weights, which sold between 425-479c. Medium-weight heifers dipped by 3c, prices now ranging from 424-494c/kg. Lighter weight steers, particularly those weighing between 200-280kg, attracted significant attention from restockers, selling at an average of $1,242 per head, though still lower than the previous week.

Cattle and Cow Pricing

The market for heavy steers and bullocks remained tight, with the majority being sold between 410-465c/kg. The cow sale drew a considerable number of processors and restockers, resulting in strong demand. Heavy cows maintained stable prices, averaging 406c, while leaner cows saw softer demand, especially those under 520kg, selling between 318-390c/kg. Notably, store type cows were supported by restockers, with better quality store cows fetching prices from 355 to 420c/kg.

Conclusion

As reported by market analyst Leann Dax, the Wagga market continues to evolve, driven by fluctuating competition and sustained interest from both processors and restockers.

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