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.
After a slow start that has ebbed and flowed, new season lambs are starting to see some larger numbers coming online, with 8,800 head offered this week. Listings are coming from South Australia, Queensland and New South Wales and recorded an average value over reserve of $7/head. For some context the 29,538 head of new season lambs listed so far in 2023 is 28% behind 2022 and 61% behind 2021, showcasing the indecision in the current market and the high supply that remains on farm.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred lambs continue their supply drive, as new season lambs start to make their presence felt in the market, with the 7,480 head rising $1 to average $74/head. From Bourke, NSW a line of 485 White Suffolk/Merino Mar/May '23 drop mixed sex lambs weighing 35kg lwt returned $70/head, or 197c/kg and will travel to a buyer in Picola, VIC.
Merino ewe lambs saw a slight increase in price this week, rising $6 to average $79/head for the 2,868 head that was offered and reached a final clearance of 46%. From Spalding, SA a line of 280 Poll Merino Jun/Jul '22 drop lambs weighing 44kg returned $110/head.
First cross ewes remained firm on last week, rising $1 to average $182/head for the 1,084 head on offer. From Tullamore, NSW a line of 300 Border Leicester/Merino ewes aged 12 to 13 months old and weighing 62kg returned the top price at $190/head.
Note: Prices as at 5pm Thursday, 10th August 2023
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
AuctionsPlus Interactive Sheep Market Report