Markets

Wagga sale 25 Sep 2023: Feedlot demand wanes in 5000 head yarding

Leann Dax, 25/09/2023

Yarding 5000 Change +460

Warmer weather and an impending public holiday combined to increase cattle numbers at wagga to 5000 head.  Many of the cattle were better suited for feedlots. However, the market faced challenges in establishing a stable base, leading to price declines ranging from 20c to as much as 50c/kg. This decline was a recurring trend throughout the market.

Major feedlot buyers showed limited interest, and competition waned once cattle prices crossed the 240c/kg threshold. Meanwhile, demand from domestic processors remained lacklustre, and feedlots absorbed a portion of the well-covered stock.

Feeder steers, which saw a smaller group of buyers, experienced a price drop of 25 cents, averaging at 221c/kg. Light-weight feed steers softened by 7c, with an average of 212c/kg.  Light-weight feeder heifers in the 330 to 400kg struggled to attract buyers, resulting in a 48c price drop, averaging at 162c/kg. Trade steers and heifers faced patchy demand as buyers hesitated to compete with feedlot buyers. Heifers weighing between 400 to 500 kilograms saw a 15c/kg decline, and concerns were raised about the pregnancy status of some heifers. Trade steers were scarce, and those with better coverage fetched prices ranging from 210 cents to 280c/kg

In the export market, bidding lacked enthusiasm as buyers refrained from pursuing the market. Heavy steers sold at an 18c discount, averaging 222c/kg. Bullock prices also suffered a 30c decline, reaching an average price  of 223c/kg. Cows were mostly very good with a larger proportion heavy types. Prices for heavy cows dropped by 20 to 30c  reaching new lows. Heavy D4 cows were sold within the range of 155 to 191c, while leaner-grade cows fetched prices between 123 and 145c/kg.

Market reporter: Leanne Dax

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

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