The rise of Wagyu beef and cattle in the past decade has led to substantial premiums being achieved by producers, with F1 Wagyu/Angus making up over 50% of total “Wagyu” listings on AuctionsPlus.
F1 Wagyu/Angus steers have earned an average premium of $1,319/head, or 59% higher, compared to the average Angus/Angus steer price in 2022, as of November 14.
This is the highest annual average premium achieved over the last seven years, as the demand in the high-end market segment continues to expand.
This premium for F1 Wagyu/Angus cattle against Angus/Angus cattle has changed significantly since 2016, as supply, season and demand factors ebb and flow. Listings of F1 Wagyu/Angus steers doubled from 2017 to 2018, reaching over 3,000 head. Listings remained high in 2019 and 2020, at around 2,000 head.
Listings on AuctionsPlus have returned to the 1,000-1,500 head range in 2021 and 2022. Consequently, the premium achieved over purebred Angus steers has soared from minus $36 in Q3 2020, to over $1,500/head in Q3 2022.
Demand for Wagyu cattle and subsequently Wagyu beef remains robust, with Wagyu feeder cattle in long-fed programs accounting for increasing numbers on feed.
The feverish demand for Wagyu genetics has been on display, with impressive results achieved in recent Wagyu feature sales on AuctionsPlus.
The GDL Premium Wagyu Sale achieved a great result on November 10th, grossing over $1.5 million.
The online only sale attracted over 5,000 catalogue views, with over 1,000 bids placed online. Likewise, the Longford Mr Awesome Wagyu Auction interfaced with AuctionsPlus also exceeded expectations, grossing over $1.2 million, with almost 4,000 catalogue views and over 250 bids placed online.
-AuctionsPlus