Wagga sale 5 June 2023: Feedlot demands pushes prices higher

Leann Dax, 05/06/2023

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The Wagga Wagga cattle sale today saw stronger competition among buyers, especially from feedlots. Feedlots played a significant role in shaping the market dynamics. Their active bursts of bidding created an environment of strong competition, leading to a surge in prices for feeder steers and feeder heifers.

Feeder steers weighing between 400 to 500kg were in high demand, with buyers eagerly competing for quality lines. This competition resulted in a substantial price increase of 50c, reaching a top price of 360c/kg. The surge in prices reflects the market’s recognition of the looming long weekend and the substantial rain predicted in coming days.

Similarly, feeder heifers of medium weight experienced a notable gain in prices, averaging 30c higher and reaching an impressive average of 315c/kg. The strong competition from feedlots created a favourable market environment, benefiting sellers after last week’s significant price correction.

The seasonal shortage of heavy steers and bullocks meant prices jumped 25c to 30c/kg. The bulk selling from 220c to 333c/kg.

The decline in demand for cows can be attributed to several factors, including seasonal considerations, kill space, and man power. As the market becomes more focused on prime cattle suitable for processing, demand for cows, particularly heavier ones, has softened. It’s worth noting that the cow market can be subject to fluctuations, and demand does vary from sale to sale. Heavy cows eased a few cents selling at 195c to 229c/kg.  The middle run dipped 10c making from 155c to 190c/kg.

Market reporter: Leanne Dax

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


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