Strong Demand and Rising Prices as Festive Season Approaches
In the latest cattle sale at Wagga, a total of 5,800 cattle were yarded, marking an increase of 1,700 from the previous sale. This surge in numbers coincides with the upcoming Christmas break and the recent extensive rainfall across New South Wales (NSW) and Queensland, which has notably boosted demand for quality cattle.
The market witnessed a significant rise in prices, driven primarily by feedlots and exporters. Across various categories, price increases ranging from 20p to 50p per kilogram were common. Notably, heavy steers and bullocks saw the most substantial hikes, with top prices reaching 308p per kilogram, an increase of 57p from the previous week.
In the trade market, buyers struggled to compete with the prices offered by feedlots, resulting in limited purchases. Trade steers and heifers were sold for prices ranging from 230p to 282p per kilogram, with the highest quality lines attracting the top bids.
Feedlots were particularly dominant in this sale, with a major NSW processor emerging as a volume buyer across all weight categories. Medium weight feed steers saw an increase of 33p to 38p per kilogram, reaching a top price of 337p per kilogram. Feeder heifers also experienced a rise in prices, increasing by 30p to 36p per kilogram, although their numbers were comparatively limited.
The export market remained robust, with prices for bullocks and heavy steers ranging from 250p to 308p per kilogram. The best quality and age combinations fetched premium prices, with the market seeing a notable upward trajectory in bidding, surpassing the 300p per kilogram threshold.
Cows were in high demand, particularly the leaner grades, which saw extended bidding duels. Heavy cows saw an average price increase of 18p to 240p per kilogram, while leaner grades improved by a similar margin to average 222p per kilogram. This segment of the market was buoyed by strong demand from both processors and restockers, who were keen to capitalise on the favourable seasonal conditions.
Overall, the Wagga cattle sale reflected the strong market demand and the limited supply of quality cattle as the industry moves towards the festive season and the new year.
