Meat & Livestock News

Cattle Market Report: Wagga Saleyard Insights 20th Nov 2023

Australian Beef Herd

At the recent Wagga Saleyard auction, the total yarding numbered 3,555, marking a decrease of 915 from the previous auction. Despite this reduction in numbers, the quality of cattle on offer was consistently fair to good, particularly evident in the finished cattle across diverse trade categories.

A significant factor influencing the market at this sale was the recent rainfall in the north, which spurred increased orders from feedlots and restockers. This demand shift was a key driver in the substantial price gains witnessed as the auction progressed.

Key observations from the sale included a strong interest from major feedlot buyers in all well-bred stock lines. Steers, especially those weighing between 330 to 480kg, were highly sought after by feedlots, maintaining a robust market presence. As the sale advanced, feeder steers attracted more buyers, leading to heightened competition and a price increase ranging from 6c to 15c/kg. The average price for medium-weight feeder steers settled at 225c/kg. In a notable trend, light-weight feed steers within the 330 to 400kg bracket experienced a significant 29c increase in price, averaging at 247c/kg.

In the heifer categories, light-weight feeder heifers (330 to 400kg) saw a 19c rise in price, averaging 215c/kg. Meanwhile, medium-weight feeder heifers remained in strong demand, achieving top prices of 220c/kg. Trade heifers, weighing 400 to 500kg, improved by 22c, averaging at 209c/kg, although their demand fluctuated due to intermittent competition with feedlot buyers. Trade steers displayed varied price trends, with well-covered pens fetching prices between 225 to 250c/kg.

The export market at the Wagga Saleyard maintained its steadiness, with heavy steers improving by 8c to average 203c/kg. Bullocks saw an increase of 8c to 10c, with prices ranging from 195 to 238c/kg amid growing exporter competition. The sale was also notable for the excellent quality of cows, particularly the heavier types. Heavy cows experienced a price jump of 15c, averaging at 200c/kg, while leaner grades attracted stronger competition, lifting up to 37c to range from 164 to 186c/kg.

This comprehensive report from the Wagga Saleyard reflects a dynamic cattle market, shaped by environmental factors and robust competition, highlighting the resilience and vitality of the agricultural sector.