Markets

Wagga sale 3 June 2024: Market opens solidly

Leann Dax, 04/06/2024

Yarding 4470 Change  -610

The market opened solidly, but agents were surprised by the slightly lower numbers, attributed to widespread rain and public holiday the following Monday.

The quality of the offering was only fair with most cattle in store condition. All buyers made it to the sale with quite a few feedlot buyers in the market.

Cow numbers declined with 910 offered. Not all processors were actively bidding to acquire cows across all categories due to a backlog at most abattoirs.

In the trade market, domestic processors struggled to compete with feedlots, limiting purchases.

Trade heifers and steers fetched from 300c to 352c/kg. Medium weight feeder steers rose by 6c, with buyers paying a slightly more for well-bred types. Steers 400 to 500kg sold from 300c to 382c/kg, while heavyweight feed steers peaked at 384c/kg. Feeder heifers improved by 11c to 12c, averaging $1375/head for medium weights.

Restockers showed interest in well-bred lighter steers 280 to 330kg, raising rates by 33c to an average of $1071/head. In the heavy export sale there was not competition from processors for steers above 600kg. Prices however did improve 3c with the bulk selling from 260c to 333c/kg. Heavy grown steers suitable for processors gained 20c, selling from 255c to 348c/kg.

Heavy cow prices continued to climb as the sale progressed due to the shortage of well finished types at all selling centres. The middle run of leaner types under 530kg sold from 192c to 232c/kg. Store cows were highly sought if they were younger types, prices ranging from 188c to 245c/kg.

Market reporter: Leanne Dax

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

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