Markets

Wagga sale 13 Nov 2023: Feedlot orders fuel competition

Leann Dax, 13/11/2023

Yarding 4426 Change +590

The Wagga cattle sale witnessed a notable surge in numbers to 4426, maintaining a fair to good quality yarding. There was a lot of weight in the offering with lighter weight stock in limited numbers. Notably, there was robust demand for secondary and well-finished cattle, with a prominent supermarket actively participating in the upper classes of the trade. Amidst market dynamics, increased orders from feedlots for medium-weight heifers and steers fuelled intense competition between these orders and processors.

Major feedlot buyers exhibited stronger interest, leading to intensified competition for well-bred steer lines. Domestic processors confirmed a steady appetite for steers weighing between 400 to 500kg. Feeder steers experienced intense competition, resulting in a 16c/kg price gain, with medium weights averaging at 228c/kg. Light-weight feed steers in the 330 to 400kg bracket saw a 7c price increase, averaging at 217c/kg. Equally, light-weight feeder heifers in the 330 to 400kg category saw  a 21c price gain, averaging at 196c/kg. Medium-weight feeder heifers were keenly sought, reaching a top price of 199c/kg. Trade heifers faced fluctuating demand, with occasional buyer hesitation against feedlot competition. Trade heifers in the 400 to 500kg range improved by 23c, averaging at 187c/kg. In contrast, trade steers sold to erratic price trends, with well-covered pens fetching prices ranging from 183c to 229c/kg.

Shifting focus to the export market, bidding maintained firmness primarily for the younger, well-finished portion, while aged steers faced discounts. Heavy steers struggled to retain pricing stability, slipping by 15c to average 194c/kg. Bullocks experienced a 3c drop, with prices ranging from 194 to 232c/kg. The quality of cows remained excellent, with heavier types in greater numbers. Prices for heavy cows remained mostly unchanged, averaging 184c/kg. Leaner grades fetched prices ranging from 128 to 162c/kg.

Market reporter: Leanne Dax

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

HAVE YOUR SAY

Your email address will not be published. Required fields are marked *

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Beef Central's news headlines emailed to you -
FREE!