The first week of commercial sheep and lamb sales of 2024 was met with welcomed positivity, with all market indicators being in the green. This is now three weeks in a row that the market indicators have been in the green, proving a substantial rebound in market sentiment since the lows of mid to late 2023. Listings was the only indicator that was lackluster, with a 6% rise on the final sale of 2023 seeing 38,070 head offered, which is well under the yardings seen in early December. Demand for the tight 38,000 head was very strong, with 87% of the offering securing a buyer as prices lifted substantially on last year seeing a 11% rise in the AuctionsPlus Restocker Lamb indicator and the crossbred lamb price rising a healthy 28%.

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First sale for 2024 saw low listings, but stronger prices for steers and heifers
AuctionsPlus sheep markets excelled despite disjointed selling week, achieving 85% clearance, $16 VOR, and a 12% increase in the Restocker Lamb indicator.
AuctionsPlus commercial cattle saw little more than a third of the total listings cleared with confidence seemingly tested by last week’s muted confidence.
AuctionsPlus commercial sheep listings rose 21% to their highest level since April. Buyer demand was high at 84% clearance and prices rose strongly.
Vendors tested the market with the highest listing in over a year, as producers looked for a Christmas bump. The larger offering was met with lower clearance and prices.
The AuctionsPlus commercial sheep and lamb markets rose sharply this week with price increases across the board as growers looked to take advantage of confidence ahead of the Christmas shutdown.
AuctionsPlus recorded its largest offering since early June, and strong price gains were seen across much of the platform, particularly for steers.
Strong buyer demand was seen across AuctionsPlus commercial sheep and lamb listings with prices rising another 3% for crossbred lambs, and very strong clearance rates.

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