Wagga Wagga Saleyard Report: Market Update

Current Market Overview

Yarding: 5900 Change: +2760

Following a recent public holiday, the number of cattle at the Wagga Wagga sale surged, primarily driven by favorable drying spring conditions. All usual buyers were present at the sale, yet their purchasing power appeared significantly reduced compared to just two weeks earlier.

Quality and Demand

Quality of cattle remained mixed, with some young cattle showing good finish, attracting specific buyers looking for well-finished stock. However, varying breeds resulted in pronounced price gaps, particularly for colored cattle, which did not see matching demand.

Restocker Activity and Market Dynamics

Restockers, typically pivotal in the market, exhibited noticeably less activity. The ongoing drying spring conditions likely influenced this cautious approach as restockers evaluate the consequences of dry weather.

Trade Cattle Prices

Domestic processors faced challenges competing with feedlots. Trade steers and heifers were reasonably available, but prices for stock weighing between 400-500kg dropped by 35-55c, mainly ranging from 440-513c/kg. Conversely, lightweight feeder steers (330-400kg) witnessed price increases, eventually ranging from 340-526c/kg. Medium-weight feeder steers, however, saw a decrease of 29c/kg despite a competitive buying environment. Prices for lightweight steers returning to pastures (200-280kg) averaged $1205/head, dropping by 38c/kg. Feeder heifers displayed erratic pricing trends, especially for colored stock, with medium-weight feeder heifers selling for 20c less, ranging from 357-474c/kg.

Export Market Insights

On the export front, feedlots continued to dominate the market. Grown steers and bullocks suitable for processors fetched prices ranging from 430-490c/kg, while heavy steers for feeding sold for 440-504c/kg. Heavy cows were well supplied, but prices receded by 23c, with better-finished cows priced between 370-405c/kg. Leaner cows weighing under 520kg maintained better value, selling between 325-378c/kg.

Conclusion

As the market adapts to changing conditions, careful monitoring of quality and pricing trends will be essential for stakeholders in the livestock sector.

Market Reporter: Leann Dax.

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