Our State of the Market Report tracks market trends across every state during FY2025. By looking at throughput, regional strengths, price indicators and top sales, the series aims to highlight both local dynamics and how each state compares on the national stage.
This week, the focus shifts to Victoria - the second-largest sheep supplier in the country on AuctionsPlus and a steady performer in lighter cattle markets.
Victoria’s AuctionsPlus results for FY2025 reflected a consistent role in the national cattle trade. Victorian vendors accounted for 6.4% of national commercial cattle throughput, ranking fourth overall behind New South Wales, Queensland, and South Australia.
Prolonged dry conditions across many of Victoria’s volume-producing sheep and cattle regions led to high livestock slaughter rates, soaring feed costs, a shortage of available fodder, and a widespread reduction in breeding numbers.
Regionally, South-West Victoria drove 45% of all cattle listings, underlining its dominance in the state’s cattle industry. North-East Victoria contributed 21%, Central Victoria 15% and Northern Victoria 11%, while Gippsland and other smaller regions made up the remainder.
Cattle sales were led by lighter-weight steers and heifers suited to restocker and feeder demand. Steers over 400 kilograms averaged $1,717 per head, while those in the 330–400 kilogram range averaged $1,390 per head. Heifers followed similar patterns, with the heaviest averaging $1,443 per head and midweight lines averaging $1,197.
Notable sales included a line of 20 feeder steers from Gorae West in South-West Victoria. The 18-month-old, pure Angus steers averaged $2,310 per head, which equated to 782c/kg dressed weight.
20 Feeder Steers from Gorae West, offered by S&J Malcolm. Pic: Supplied via AuctionsPlus
Top-price sales highlighted Victoria’s access to premium markets. Wagyu PTIC cows and calves reached $4,000 per head, while PTIC heifers averaged $1,841. Young steers under 280kg were also in strong demand, consistently supported by interstate restockers.
The AuctionsPlus Young Cattle Indicator (AYCI) peaked for Victoria on September 1, 2024, at 463c/kg liveweight, with an average liveweight of 308kg at the time. This peak emphasised the state’s influence in driving national price benchmarks during the spring flush.
The real standout for Victoria in FY2025 was its sheep sector. Victorian vendors listed 12% of AuctionsPlus sheep numbers, making it the second-largest sheep supplier nationally, behind only NSW.
The state’s sheep industry was heavily concentrated in the south-west, which alone accounted for 66% of Victoria’s throughput. Northern Victoria added 12%, North-West Victoria 10%, and Central Victoria 9%, with smaller contributions from Gippsland, North-East Victoria and Melbourne. Victoria’s South-West stood out as Australia’s largest contributor of sheep throughput.
Crossbred lambs dominated Victoria's supply, while Merino wether lambs, Merino ewe hoggets, and scanned-in-lamb Merino ewes provided strong depth for both restockers and breeders.
Top-price sales were led by crossbred lambs and Merino breeding lines, with Victorian vendors consistently attracting competition from interstate buyers.
The AuctionsPlus Restocker Lamb Indicator (ARLI) for Victoria peaked at 1,093c/kg dressed weight on April 20, 2025, at an average of 34kg liveweight. This placed Victoria above Queensland and NSW, and only slightly behind the highs reached in South Australia.