Weekly Sheep & Lamb Comments - 12.02.21

Exclusive sheep and lamb offerings through AuctionsPlus were back slightly this week, moderating last weeks large jump across both online and physical markets. Sheep and lambs offered through AuctionsPlus for the past week totalled 118,232 head – back 5% on the previous week.

While further good falls of rain through key growing regions over the past week will have maintained production options, it is likely that the continued absence of any scorching summer heat is bringing the most relief to producers. As expected, quality continues to be above average - a reflection of the season and responsiveness of producers.

First cross ewe lamb prices lost most of last week gains, back $31/head, averaging $236/head, as the clearance rate fell to 48%. In recent weeks, this category has had the lowest clearance rate of all reported lamb categories, despite some significant price movements from week to week, as both buyers and sellers continue to remain some distance apart.

In contrast to first cross ewe lambs, clearance rates this week for crossbred lambs exceeded 90%, even with a 60% jump in supplies. The average prices for crossbred lambs were relatively steady this week, at $162/head, while multi-purpose lambs finished $18/head higher, at $194/head – with a 87% clearance rate for the 8,402 head offered.

The sheep market registered fluctuating prices, with varied clearance rates. The largest category offered for the week was SIL Merino ewes, with 16,314 head exclusively offered, which was back 20% on the previous week. With the reduced offering, prices for the week increased $12/head, to $254/head, at a 63% clearance rate. After a $56/head jump last week, SIL first cross ewe prices fell back $38/head, to average $308/head.

From the 14,839 head offered, at 86% clearance, unjoined Merino ewes slipped back $11/head this week, to average $224/head – with the top line for the week hitting $320/head. Unjoined first cross ewes increased $3/head, to average $229/head for the week, with an 84% clearance rate from the 4,208 head offered.

Note: all prices reported below are as at the close of reporting of 5pm, Thursday 11th February.

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