In a recent sale at Wagga Saleyard, there was a notable increase in cattle numbers, totalling 7,590, which is an increase of 1,790 from the previous sale. This surge can be attributed to the higher prices observed last week and the impending closure of sale yards over the Christmas period.
The market remained stable for heavy cattle, thanks to the consistent demand from exporters in New South Wales, Victoria, and Queensland. A significant presence of feeder buyers was noted, with a considerable portion of the stock being purchased for Queensland.
Despite the robust numbers, sale prices experienced a slight decline due to the high volume of cattle. Feedlot buyers became more selective, with some opting not to engage actively in the market.
Trade buyers found themselves outpaced by feedlots, leading to domestic processors taking a less active role in the sale. Trade steers and heifers were sold within the range of 230 to 255 cents per kilogram.
Feedlots were the dominant buyers in this sale, with a major processor from New South Wales purchasing across various weight categories. Medium weight feed steers saw a decrease of 14 cents, averaging 293 cents per kilogram. Feeder heifers also witnessed a drop in price, averaging 255 cents per kilogram, due to fewer orders.
The export market experienced some fluctuations, with feedlots intermittently participating in the sale. This led to variable pricing. Heavy feeder steers maintained their value, selling between 250 and 309 cents per kilogram. Bullocks and heavy steers ranged from 222 to 303 cents per kilogram, with premium prices for the best quality younger lots.
Cows saw a decrease in demand compared to the previous sale, leading to a drop in price of 12 to 18 cents per kilogram. Heavy cows averaged 227 cents per kilogram, while leaner grades sold between 175 and 217 cents per kilogram.
This saleyard report highlights the dynamic nature of the cattle market, especially in the lead-up to holiday periods, and underscores the significant role of feedlots in determining market trends.
