Markets

Wagga sale 4 Dec 2023: Price lifts 20-50c/kg

Leann Dax, 05/12/2023

Yarding 5200 Change +1800

Rising demand, fuelled by the impending Christmas break and widespread rainfall in NSW and Queensland, led to a substantial surge in both cattle numbers and prices.

The MLA National Livestock Reporting Service reported a notable uptick in cattle volumes, with 5200 head presented at Wagga—an increase of 1800 from the preceding week. A robust presence of Queensland buyers, seeking feeder types and well-finished export cattle, intensified the competition both locally and interstate.

Market dynamics witnessed a significant upswing, primarily driven by feedlots and exporters. Price hikes ranging from 20c to 50c/kg were prevalent across various categories. Heavy steers and bullocks experienced the most pronounced price increases, reaching a peak of 308c/kg, marking a substantial 55c/kg ascent from the previous week.

In the trade market, buyers struggled to match the prices offered by feedlots, resulting in a subdued day with limited purchases. Trade steers and heifers traded between 230c and 282c/kg, with top-quality lines commanding the highest bids.

Feedlots played a dominant role in the sale, with a prominent NSW processor emerging as a significant buyer across all weight categories. Medium-weight feed steers saw gains of 33c to 38c/kg, reaching a pinnacle at 337c/kg. Feeder heifers also attracted attention, experiencing a boost of 30c to 36c/kg, albeit with limited numbers compared to previous weeks.

In the export market, the sale gained momentum as buyers consistently bid higher. Prices escalated by 55c and more, surpassing the 300c/kg threshold as the sale progressed. Bullocks and heavy steers traded from 250c to 308c/kg, with premium prices secured for  quality and age combinations.

Cows were in high demand, especially leaner grades that faced prolonged bidding duels. Heavy cows observed an 18c jump, averaging 240c/kg, while leaner grades improved by 18c, reaching an average of 222c/kg. The cow market received solid support from processors and restockers capitalizing on favourable seasonal conditions.

The Wagga cattle sale mirrored the industry’s tight supply and robust demand for quality cattle, reflecting the prevailing market conditions.

Market reporter: Leanne Dax

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

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Comments

  1. Rob spehr, 05/12/2023

    About time at these prices at least we can tread water for a while and not go backwards thanks to interest rates and input costs

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