Wagyu price update Q2, 2026
Market Morsel
Australian Wagyu prices continued to strengthen during the second quarter of 2026, extending a recovery that has been building since the lows seen during early 2025. The latest Episode 3 industry survey shows average prices rose across most Wagyu categories during Q2, although considerable variation remains between individual cattle and programs. The clearest improvement was toward the higher genetic-content end of the market, with F4 Pureblood and Fullblood values recording further gains.
F1 Wagyu averaged $2,200/head during Q2, up around 3pc from $2,142/head in the previous quarter. Prices reported across the industry ranged from approximately $1,900 to $2,700 per head, demonstrating that genetics, weight, specifications and individual supply arrangements continue to create a broad market.
F2 cattle averaged $2,300/head, around 4pc higher than the $2,209/head recorded during Q1. The reported range extended from approximately $2,200 to $2,950/head. F2 values have now recovered substantially from the $1,040/head average recorded during the opening quarter of 2025.
F3 Wagyu were the exception to the generally firmer trend. Average values eased around 6pc quarter-on-quarter, from $2,525/head to $2,380/head. However, the industry range remained broad at approximately $2,200 to $3,400/head, and average F3 values remain considerably higher than the levels recorded a year earlier.
Further up the genetic spectrum, F4 Pureblood Wagyu strengthened from $2,870/head in Q1 to an average of $3,100/head during Q2, an increase of around 8pc. Reported values from the survey ranged from about $2,500 to $3,300/head. It is the first quarterly average above $3,000/head since the strong Wagyu market of 2021 and 2022.
Fullblood Wagyu remain in a different price bracket altogether. Average Fullblood values increased another 7pc during Q2 to $4,825/head, compared with $4,525/head in Q1. The range was also considerably wider than for the other categories, stretching from approximately $3,500 to more than $8,000/head. The breadth of that range reflects the much greater variation in genetic merit and individual animal value within the top end of the Wagyu market.
Click here to take part in this short 5 minute survey.
Provide your email address (optional) if you would like to receive a free summary report of the detailed Wagyu price findings of the Q2, 2026 survey once the survey is closed and results are calculated.
Stepping back from the quarterly movements, the more significant story is how far Wagyu prices have recovered from early 2025. F1 values have climbed from $989/head in Q1 2025 to $2,200/head, while F2s have risen from $1,040 to $2,300/head. F3s have increased from $1,375 to $2,380/head and F4 Purebloods from $1,760 to $3,100/head. The recovery has not been completely smooth, particularly for Fullblood cattle, but the direction across the broader Wagyu complex is increasingly clear. Prices remain below the extraordinary peaks of 2021 and 2022, but after the substantial correction that followed, Wagyu cattle are again commanding considerably stronger values across the genetic spectrum.
