AuctionsPlus commercial sheep and lamb numbers rose this week to 77,917, jumping by 11% from the previous week. Clearance came back slightly, falling four percentage points to 65%. Value over reserve also fell, finishing the week at an average of $6 above set reserves. Despite the drop in the crossbred lamb indicator, over half of reported sheep and lamb categories registered price gains, which was spread across all stock categories. A particular highlight this week was the stronger prices received for Merino type categories, with all but Merino ewe hoggets experiencing price increases.
This week’s offering comprised mainly of lambs and NSM ewes with both categories registering increases on last week, driven by new season lambs and a much larger number of Merino ewes. Lambs increased by 16% to total 58,912 head and NSM ewes rose 11% to register 17,182 head.
New season lambs accounted for 54,294 head this week, continuing their slow rise higher as we approach the end of the year. Demand for the offering was on par with the remainder of the sale at 64% clearance, while average prices were back to $58/head. Processors and feedlot buyers continue to be active week on week, with just over 1,200 head being secured.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred Lambs registered a larger offering with 35,189 head, as buyers were selective with the clearance rate reaching a subdued 56% and prices decreasing by $3 on last week to average $58/head. From Cowra, NSW a line of 335 Apr/May '23 drop Poll Dorset/Border Leicester/Merino mixed sex lambs weighing 44kg lwt returned $96/head, or 219c/kg.
Merino ewe lamb supply decreased substantially this week, helping lift the average price by $20 to average $54/head. Price spreads were quite significant with prices ranging from $30 to $152, while the demand for the offering was strong with clearance hitting 86%. From Nyngan, NSW the top price was returned by a line of 460 future breeder MPM ewe lambs averaging 54kg and returning $152/head.
Merino ewe listings jumped by 144% this week to see 4,432 head offered. The larger offering resulted in an auction clearance of 66% and prices lifted by $11 to average $76/head. From Wanganella, NSW two even lines of 200 Poll Merino ewes rising 3 years of age and weighing 66kg both returned $144/head.
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Note: Prices as at 5pm Thursday, 10th November 2023
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
AuctionsPlus Interactive Sheep Market Report