Markets

Wagga sale 23 Oct 2023: Finished trade cattle prices lift

Leann Dax, 23/10/2023

Yarding 2900 Change -825

There was a notable decline in cattle numbers yet the overall quality remained very good.

The majority of cattle across various trade categories weighed over 400kg, revealing a surplus of finished cattle. Most all processors were present at the sale, and a prominent supermarket chain dominated the competition for the top pens.

Prices for finished trade cattle experienced a significant surge due to intensified competition. Indications suggested that buyers were willing to step up in their bids for specific categories. Feedlot buyers, particularly those interested in heavier cattle, were highly active and engaged in strong bidding duels.

Major feedlot buyers displayed improved interest, resulting in increased competition for well-bred steers. The primary lines of well-bred steers witnessed robust competition, ultimately leading to an average price of 222c/kg. Light-weight feed steers in the 330 to 400kg range saw a 50c price gain due to a shortage of available cattle and improved quality, averaging 222c/kg.

In contrast, light-weight feeder heifers in the 330 to 400kg weight category remained stable, with an average price of 160c/kg. Medium-weight feeder heifers were in high demand, with prices maintaining their strength, experiencing slight upward fluctuations.

Both trade steers and heifers encountered stronger demand from processors. Heifers weighing between 400 to 500kg recorded price increases ranging from 5c to 12c, while trade steers, available in reasonable numbers, achieved prices ranging from 196c to 235c/kg, depending on their quality and coverage.

In the export market, bidding momentum continued to rise compared to the previous market. Heavy steers were notably strong, selling 23c higher, with an average price of 225c/kg. Bullock prices exhibited an upward trend due to limited supplies, ranging from 190c to 238c/kg. Cow quality was excellent, with a higher proportion of heavy cow types, leading to a 5 to 6c/kg price improvement for the heavier pens. Heavy D4 cows were traded between 165 and 198c/kg, while leaner-grade cows fetched prices ranging from 134 to 167c/kg.

Market reporter: Leanne Dax

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

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