Markets

Wagga sale 8 Jan 2024: Active feedlot demand in opening sale

Leann Dax, 08/01/2024

Yarding 2100 Change +100

Today’s opening sale for the new year at Wagga witnessed a respectable turnout, featuring 2,150 cattle, including 475 cows. Notably, domestic processors faced limited options as there were few cattle suitable for their needs. The spotlight, however, shone on feedlots actively seeking both steers and heifers, with numerous feedlot orders, some destined for Queensland.

Given the sparse buyer presence at the previous sale, it’s important to consider that prices may appear somewhat distorted. Nevertheless, there was a positive trend in prices for feeder steers and heifers, experiencing an increase of 10c to 20c/kg. Feeder heifers in the 400 to 500kg range commanded prices ranging from 256c to 288c, while medium-weight steers sold for 237c to 331c/kg.  Additionally, trade heifers made sales from 266c to 276c/kg

In contrast, heavy steers and bullocks intended for processors experienced a dip of 20c, with only one major exporter showing significant interest in this category. Heavy steers and bullocks sold within the range of 232c to 272c/kg. Heavy heifers, however, fared well, marking a 22c improvement due to increased competition, selling from 232 to 277c//kg.

As the sale progressed, cow prices saw an upward climb, influenced by wet weather warnings on the minds of processors. Heavy cows experienced a 10-cent increase, peaking at 254 cents per kilogram. Leaner cows saw a more substantial improvement of 30c/kg, with prices ranging from 211c to 241 cents per kilogram. This pricing shift underscores the impact of external factors on the market dynamics, shaping a noteworthy development,

Market reporter: Leanne Dax

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

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