Markets

Wagga sale 20 Nov 2023: Feedlot and store orders increase

Leann Dax, 20/11/2023

Yarding 3550 Change -915

Cattle numbers at Wagga saw a significant decline, dropping to 3550, although the quality of offerings remained consistently fair to good, particularly among finished cattle across various trade categories.

Notably, there was a stronger demand for secondary and well-finished cattle, resulting in substantial price gains as the sale progressed.

The market dynamics shifted with increased feedlot and store orders mid sale, attributed to rain in the north, prompting feedlots and restockers to actively participate and secure a market share.

Major feedlot buyers displayed keen interest across all well-bred lines of stock, with a strong appetite for steers weighing between 330 to 480kg.

Feeder steers encountered a growing pool of buyers, fostering stronger bidding and a price increase of 6c to 15c/kg, with medium weights averaging at 225 cents/kg.

Light-weight feed steers in the 330 to 400kg bracket experienced a notable 29c price increase, averaging at 247c/kg. Similarly, light-weight feeder heifers in the 330 to 400kg category saw a 19c price gain, averaging at 215 cents/kg. Medium-weight feeder heifers were in strong demand, achieving a top price of 220c/kg.

Trade heifers faced varying demand, occasionally encountering hesitation from buyers competing with feedlot interests.

Trade heifers in the 400 to 500kg range improved by 22c, averaging at 209c/kg.

In contrast, trade steers experienced erratic price trends, with well-covered pens fetching prices ranging from 225 to 250c/kg.

The export market for heavy steers maintained its steadiness, witnessing an 8c improvement for heavy steers, averaging at 203 cents/kg. Bullocks showed an 8c to 10c price lift with increased competition from exporters, resulting in prices ranging from 195 to 238 cents/kg.

The quality of cows was excellent, particularly with big numbers of heavier types. Prices for heavy cows increased by 15c, averaging at 200c/kg.

Leaner grades attracted stronger competition, experiencing a significant 37c lift to fetch prices from 164 to 186c/kg.

Market reporter: Leanne Dax

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

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