Weekly Sheep & Lamb Comments - Week ending Friday 11th March 2022

*Originally published Tuesday 8th March 2022 - Updated Friday 11th February 2022

AuctionsPlus commercial sheep and lamb numbers bounced back this week, increasing 17% on last week, for a total offering of 121,947 head. The larger offering resulted in several categories falling in value, with four-out-of-six lamb categories reporting price decreases, as clearances rates fluctuate across categories.

As has been the case in previous weeks, the immediate clearance rates at Tuesdays’ auction end was again low, registering 49% overall, but increased steadily throughout the week, to finish the week at 60%. Interestingly, of the lots that sold during the Tuesday auction, the average selling price was $76 above the set reserve. In contrast, the lots which sold via post-sale negotiations averaged $5 lower than the set reserve.

New season lambs totaled 59,467 head, or 49% of the offering, with Merino wether lambs and crossbred lambs making up most of the new season offering. Central West NSW remains the largest listing region, while also securing the most stock for the week, with 11,443 head purchased.

Crossbred lambs reported one of their largest week-to-week price fall, averaging $145 for the 15,703 head – decreasing $11/head. On a c/kg basis the change was only 1c, as the sold offering was on average 3kg liveweight lighter per lot this week. Clearance was steady on last week at 70%. From Trundle NSW, a line of 67 mixed sex Border Leicester/Merino lambs weighing 48.2kg liveweight sold for $172/head.

Merino wether lambs were well supplied again this week, at 19,174 head, and while down on last week, the smaller volume resulted in a stronger clearance rate of 68%. The category decreased $5, selling from $70 to $152, and averaged $127/head. Merino ewe lambs held steady in terms of both volume and prices this week. The 5,341 head was met with strong demand, recording an 84% clearance and averaging $158/head.

Composite/other breed lambs accounted for 7% of the offering this week, with 8,352 head. The category averaged $160/head, erasing all last week’s gain. A highlight for the category included a line of Sept/Oct ’21 drop Nudie future breeder ewe lambs weighing 36kg, which returned $452/head.

First cross ewe lambs averaged lower for the second consecutive week at $223/head – down $24 for the 8,151 head. Demand was stronger this week for the bigger offering, recording a 59% clearance, up from 47% last week.

The joined ewe offering comprised of 30,047 head this week, with SIL Merino ewes accounting for the largest category with 14,951 head, followed by SM Merino ewes with 6,225 head. SIL Merino ewes averaged $244 and SM Merino ewes averaged $204, down $12 and $26/head, respectively. SM first cross ewes was one of the few categories to report a price increase for the week across the joined offering, increasing by $40 to average $265/head – with a strong 90% clearance rate.

The NSM ewe offering increased this week, at 23,166 head, with clearance rates varying and prices predominantly lower. The only category to report a price rise was Merino ewes, which lifted $8 to average $199/head for the 7,801 head offered. The category that was met with the strongest demand was Composite/other breed ewes, recording an 87% clearance rate for the 3,653 head offered - averaging $262/head.

NOTE: Prices as at 5pm, Thursday 10^rd March 2022