Wagyu price update Q1, 2026
Market Morsel
Australian Wagyu prices continued their recovery through the first quarter of 2026, with all five major genetic categories recording higher average prices than in the previous quarter. While values remain below the extraordinary highs seen during 2021 and 2022, the latest results suggest the market has moved beyond the stabilisation phase experienced through 2025 and into a broader-based recovery.
Weighted average prices lifted across every category during the quarter. F1 Wagyu averaged $2,142 per head, up 19% from Q4 2025, while F2 cattle increased 20% to $2,209 per head. F3 Wagyu recorded the strongest improvement, rising 22% to $2,525 per head. Higher genetic categories posted more modest gains, with F4 Pureblood cattle averaging $2,870 per head, up 3%, and Fullblood Wagyu averaging $4,525 per head, a 2% increase on the previous quarter.
The quarterly survey again highlighted the wide range of prices being achieved across the industry. F1 cattle traded between $1,845 and $2,380 per head, F2 cattle ranged from $2,009 to $2,450 per head, while F3 values extended from $2,150 to $3,050 per head. F4 Pureblood cattle achieved prices between $2,000 and $3,250 per head, and Fullblood Wagyu ranged from $3,136 to $5,292 per head, demonstrating the continued premium attached to elite genetics.
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The latest results also reinforce the differing pace of recovery across the genetic spectrum. The strongest gains have occurred in the F1 to F3 categories, which experienced the largest correction during 2023 and early 2025. By contrast, Fullblood values have continued to recover at a steadier pace after rebounding strongly in the final quarter of 2025.
Although current prices remain below the record levels reached during the peak of the Wagyu cycle, the first quarter of 2026 marks another step higher for the sector. The broad-based improvement across all categories suggests confidence has continued to return to the market, with the strongest momentum now evident in the crossbred Wagyu categories while Fullblood cattle continue to maintain their position as the premium end of the market.