Yarding 5380 Change +1100

Last week, the cattle market experienced a notable surge in price and this week it didn’t disappoint in a larger yarding of 5380.

The sale prices lifted considerably due to a strong turnout of buyers, particularly a significant group of restockers eager to purchase cattle.

Quality continues to be secondary with only a limited numbers to suit trade and export classes.

The northern regions have enjoyed one of their most promising starts to the summer cropping season, providing a boost to restockers and allowing them to broaden their purchasing parameters.

In a clear shift in strategy, restockers are now targeting cattle in the 400 to 500 kg weight range. As the festive season approaches, the cattle market continues to evolve, with restockers playing a crucial role in driving prices higher.

In the steer market, restockers were particularly active in the sales of steers under 400 kg, where prices surged by an impressive 21-23c/kg. Steers intended for the paddock in the 330-400 kg category averaged $1,401 per head, while feeder steers in the same weight bracket averaged $1,411, with peak prices hitting 392c/kg.  Medium-weight feeder steers also saw a positive trend, gaining 14c to average 358c/kg.  Restockers in this weight category were competitive, paying between 336c and 363c/kg, effectively filling any pricing voids left by feedlots. Feeder heifers were keenly sought with prices improving 15c selling at 302c to 340c/kg. Trade steers and heifers also witnessed strong demand, selling for prices ranging from 302 to 348c/kg, reflecting the overall strength of  restockers and feedlots.

In the export sector, a Queensland processor applied pressure on other export companies, leading to an increase of 15c to 26c/kg. Prices for heavy steers and bullocks ranged from 300c to 368c/kg, highlighting a competitive market for well finished steers. Heavy cows were in high demand as well, gaining 8-10c, with prices selling between 280c and 308c/kg. Conversely, leaner grades faced significant pressure, rebounding by 11 cents to average 280c/kg.

Market Reporter: Leann Dax

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