Cattle indicators rise, and lamb still breaking records

All cattle indicators rose this week along with a notable cow supply increase. Although cattle yardings eased by 15,395 head, the Dairy Cow Indicator saw a 72-head increase.

The Feeder Steer Indicator lifted 7¢ to 419¢/kg liveweight (lwt) despite price drops in NSW, SA and WA. Queensland saw a 24¢ lift, mostly driven by a strong Roma market where prices increased 35¢ to 414¢/kg. Wagga, Carcoar and Forbes saw price lifts but Tamworth (-35¢) and Gunnedah (-5¢) both eased.

The Heavy Steer Indicator lifted 58¢ to 369¢/kg lwt. NSW, Queensland, SA, Tasmania and Victoria all saw price lifts. Market reports indicated most grown steers were lighter and didn’t reach top prices.

Sheep market

The sheep market continues its boom, but supply is dipping – down 22,331 to 256,253 head - due to smaller lamb yardings.

The Heavy and Trade Lamb Indicators continued to lift - up 1,159¢/kg carcase weight (cwt) and 1,195¢/kg cwt respectively. Heavy lambs set a national record price at Forbes selling for $454/head. Competitive bidding from southern processors and supermarkets saw trade lamb prices higher than heavy lambs. Many lambs are not well-finished, reducing their prices.

The Merino Lamb Indicator lifted 34¢ to 976¢/kg cwt along with a 2,701 head supply increase. This indicates the market rise is pushing producer sales. Market reports have noted competitive bidding for well-finished merinos.  

Slaughter

Week ending July 11,2025

Cattle slaughter reached the second-largest weekly tally in five years at 155,312 head.  Queensland, at 80,639 head, reached its third-highest slaughter. NSW also lifted slightly (+255 head), while other states held steady.

Sheep and lamb slaughter eased by 52,758 to 446,015 head, caused by processor shutdowns. This eased lamb slaughter by 37,734 to 361,324 head with substantial declines in SA and Victoria. Sheep also eased by 15,024 to 84,691 head - a 27% reduction compared to 2024 figures. Slaughter eased in SA (12,122), Tasmania (1,300), Victoria (1,034) and NSW (1,233).

The Bottom Line