In a smaller yarding of 5700 at Wagga, the market stalled as buyers offered considerably reduced price levels compared to previous sales.

While there were bursts of bidding across yearling steer categories, the pre-requisite was that the steers had to be very well-bred.

Although all the typical buying groups were present, a few key exporters were cautious in their bidding.

The absence of a major player in the feeder steer market at the sale led to a downward trend in prices.

Feeder steers underwent a price correction of 10c to 20c/kg, particularly affecting the lighter weights ranging from 330 to 400kg, which experienced a 30c/kg drop.

The majority were sold within the range of 285c to 350c/kg. Feeder heifers encountered difficulties in attracting feedlot buyers, slipping by 20c to 30c/kg and selling between 230c and 297c/kg. Trade cattle remained limited and domestic processors were not prepared to chase the sale and were valued between 255c and 340c/kg. Restockers displayed strong interest across lightweight categories, albeit at rates lower by 30c/kg, while better-bred steers fetched prices ranging from 300c to 400c/kg to average $1082 per head.

In the export market, competition was very patchy, leading to a decrease in prices by 10c to 15c/kg. Heavy steers were sold between 240c and 289c/kg, while bullocks ranged from 246c to 290c/kg. Heavy cows experienced a 10c/kg decline, selling between 230 and 249 c/kg.

Market reporter: Leanne Dax