Wagga Markets Report: Cattle Prices and Trends

Current Market Overview

The latest market report from Wagga reveals that 3,800 cattle were yarded, showing a significant decrease of 1,092 head compared to the previous sale. This drop in numbers is attributed primarily to a decline in prices during the last auction. Despite the reduced quantity, the quality of cattle remains varied, particularly within the 400-500 kg range, which is currently in short supply.

Buyer Activity

Notably, there was increased activity among restockers, including buyers from northern regions, Ballarat, and local participants. In the trade category, steers and heifers sold between 410-457 c/kg, attracting many regular feedlot buyers, although not all were active in the bidding.

Feeder Prices

Feeder steers weighing 330-400 kg experienced a slight increase of 6 cents, now trading between 440-518 c/kg. Conversely, steers in the 400-500 kg category witnessed a more substantial price rise of 14 cents, selling from 405-505 c/kg. Demand for feeder heifers was also robust, particularly from the northern and southern regions of South Australia, leading to price increments of 10-16 cents for medium weights, now fetching 380-457 c/kg.

Export Sale Insights

In the export segment, buyer interest was muted for cattle intended for processors. Heavy steers weighing 500-600 kg saw a 7 cent drop, selling between 398-480 c/kg. In contrast, bullocks gained 10 cents, priced from 396-455 c/kg. With a noticeable decline in cow numbers, there was a corresponding escalation in bids for well-finished types, where heavy cows improved by 4 cents and were sold between 370-402 c/kg. Additionally, cows under 520 kg maintained strong demand, with prices ranging from 330-370 c/kg. Store cows traded well too, fetching between 352-368 c/kg.

Conclusion

Overall, market conditions suggest cautious optimism among buyers, particularly with feeder and trade categories showing resilience amidst fluctuating supply and pricing.

Market Reporter: Leann Dax

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