Wagga Yards Report: Rising Cattle Numbers and Market Trends

Market Overview

Yarding: 6,580 Change: +880

The latest auction has seen a moderate increase in yarding numbers, totaling 6,580 head. While the attendance included the usual processors, the supply of well-finished cattle remained limited. This has made it challenging for processors to commence bidding competently.

Processor Dynamics

Both feedlots and restocking orders have shown significant engagement. Notably, various lines of lighter steers are being directed to southern markets, while others are being transported to Roma in Queensland. Demand from feedlots for well-bred livestock has been notably strong, yet processors’ purchasing remained selective due to the shortage of high-quality export lots.

Steer and Heifer Market Analysis

Large groups of Angus steers and heifers that meet feedlot specifications were actively pursued. For instance, lightweight steers weighing between 200-280 kg saw a price increase of 45c, averaging $1,219 per head. Meanwhile, steers in the 280-340 kg range, particularly sought after by a buyer from Queensland, maintained a price range of 420-521c/kg. However, demand softened for lighter feeder steers (330-400 kg), pricing them at 398-514c/kg.

Medium-weight feeder steers remained stable at 438-490c/kg, while feeder heifers saw increased supply, with lightweight heifers rising by 5c to 365-444c/kg. Medium-weight heifers showed minor fluctuations, landing between 360-448c/kg. Trade steers and heifers weighing 400-500 kg were traded within the range of 410-466c/kg.

Export and Cow Market Conditions

On the export front, the limited availability of cattle suitable for processors forced fluctuations in price trends. Heavy steers garnered prices between 390-470c/kg, while bullocks rose by 19c, pricing at 415-478c/kg. However, the number of cows on the market increased, accompanied by a decline in quality. Heavy cows experienced a modest gain of 8c, selling for 370-397c/kg, while leaner cows under 520 kg dropped slightly, priced at 332-361c/kg. Better-covered store cows fell by 10c, fetching between 308-361c/kg.

Market Reported By: Leann Dax

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