The AuctionsPlus commercial sheep and lamb markets experienced a substantial decline this week as the industry shut down for the Christmas period. Despite the Christmas break affecting the total number of offerings, which was much lower than the previous week, the market responded strongly to the reduced listings, with 35,873 head meeting strong Christmas demand.
The remaining market indicators were unaffected by the disjointed week, reflecting two consecutive weeks of positive indicator results. This positive trend is driven by the recent uptick in confidence and the lower supply on offer this week. Clearance rose by 1 percentage point to 85%, the Value Over Reserve averaged $16 above set reserve levels, and the AuctionsPlus Restocker Lamb indicator increased by 12% to 523c/kg DW.
