Markets

Wagga sale 16 Oct 2023: Overall quality excellent

Leann Dax, 16/10/2023

Yarding 3725 Change -15

Cattle numbers  remained quite consistent with the previous week with agents mustering 3725. The overall quality of cattle was excellent, particularly in the category of finished cattle, which saw increased supplies. Despite the presence of a prominent supermarket at the sale after a prolonged absence, prices for most finished trade cattle continued to face weak demand. This persistent lack of trade competition was a recurring theme in the market.

Notably, major feedlot buyers displayed increased interest, leading to heightened competition for well-bred steers. However, demand from domestic processors remained sluggish. Feeder steers attracted a larger pool of buyers, resulting in an 11c price increase, with medium-weight steers averaging at 224c/kg. On the other hand, the prices of light-weight feed steers in the 330 to 400kg weight range experienced a significant drop, averaging at 168c/kg. Light-weight feeder heifers in the same weight range saw a 10c decline, averaging at 161c/kg. Medium-weight feeder heifers remained in demand, and their prices remained steady.

Trade steers and heifers encountered inconsistent demand, as buyers hesitated to compete with feedlot buyers. Heifers weighing between 400 and 500kg maintained their prices at an average of 175c, while trade steers were available in reasonable numbers, with varying prices ranging from 155c to 240c/kg.

In the export market, bidding lacked enthusiasm initially, but the market gradually gained momentum as the sale progressed. Heavy steers were sold at a 14c lower rate, averaging at 201c/kg. Bullock prices experienced a decline, particularly for aged steers, which were heavily discounted. Bullocks were priced between 172c and 225c/kg. The quality of cows was excellent, especially among the heavier types, and prices for heavy cows saw a 1c/kg improvement. Heavy D4 cows were traded between 158 and 186c, while leaner-grade cows fetched prices ranging from 136 to 162c/kg.

Market reporter: Leanne Dax

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

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