AuctionsPlus commercial sheep and lamb listings rose 12% this week, with 33,374 head offered. The larger offering was met with subdued buyer interest, as clearance at auction was well below average, eventually climbing to 33%. The poor at auction clearance is consistent with a value over reserve that is negative, given 71% of the sold lots were secured post-sale. This is an indication of the state of the market where vendors are having to accept prices less than their reserve.
