Markets

Wagga sale 14 August 2023: Dramatic price falls in smaller yarding

Leann Dax, 14/08/2023

Yarding 3100 Change -1200

In a dramatic day at Wagga the cattle market witnessed a significant price plunge over several categories, in a smaller yarding of 3,100

Despite a good turn up of buyers, prices took an unexpected nosedive after last week’s cheaper market of 20-30c/kg.

Heifers in particular bore the brunt of the cheaper trend with heifer prices experiencing a rate drop of 70c to 80c/kg, with the bulk selling from 187c to 264c/kg.

Prices continued to fall leaving vendors and spectators puzzled by the sudden sharp downturn.

There was a significant downside to the feeder steer market as feeder steers faced a 30c price drop.

Feedlots were able to make a big number of purchases under 300c/kg.

The main lines ranged in price from 187c to 342c/kg.

Trade steers and heifers also face a tough sale experiencing price discounts of 30-50c/kg, with lack luster demand from processors, signaling a broad decline in demand.

Trade steers and heifers made from 185c to 300c/kg.

The export market for heavy steers and bullocks was relatively stable.

These categories maintained their value selling within a range of 240c to 283c/kg.

However, the cow market faced a substantial blow of 30-40c/kg. The impact of the cheaper trend was felt across all classes of cows.well finished cows fetched prices ranging from 187c to 235c/kg. Leaner cows sold at 140-186c/kg.

Market reporter: Leanne Dax

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

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