Weekly Sheep & Lamb Comments - Week ending Friday 12th July

AuctionsPlus commercial sheep and lamb listings lifted by 19% this week, totaling 35,659 head and clearance rates lifted 4 percentage points to 86%.

Value Over Reserve was steady, again averaging $15/head over set reserves.

Lamb prices lifted after a dip last week, with the crossbred lamb indicator bouncing back with an increase of 13%, after decreasing by 9% last week. The indicator averaged $135/head this week.

Similarly the AuctionsPlus Restocker Lamb Indicator climbed 179c this week to land at 689c/kg dressed weight, rebounding from a fall of 152c the week prior.

The joined ewe offerings fell significantly this week but still made up most of the offering with a combined 10,995 head, or 31% of the total. Last week this group accounted for 48% of the offering. Lamb articles made up the second largest pool at 10,222 head, or 29% of the offering. 

When assessing individual categories, Merino Wethers had the largest offering - with 7,402 head or 21% - a huge increase after no head were recorded in this category since the week ending June 21, when 980 head were offered.

Listings from Queensland more than doubled this week, were steady in NSW and fell significantly in Victoria. Purchases lifted in NSW, with buyers from that state taking home the bulk of the market. However, purchases in Queensland lifted significantly from the previous week. 

Processer/feedlot activity snapped up 3% of the offering this week.

Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard

Crossbred Lambs registered a slightly higher offering of 3,701 head, and prices increased on last week to average $135/head - up $15 for a 91% clearance. From Cootamundra, NSW, a line of 440 Composite/Composite X BL/MER wethers, August/September 2023 drop, and weighing 38kg lwt returned $150/head, or 391c/kg and will travel to a buyer in Canowindra, NSW.

Merino wether lambs registered a 41% decrease in numbers this week, after a 96% increase the week before, with the 3,484 head achieving a 100% clearance and a $23/head bump. From Dalgety, NSW, a line of 366 Merino wethers, August/September 2023 drop and weighing 36kg lwt returned $107/head, or 294c/kg and will travel to a buyer in Wagga Wagga, NSW.

SIL Merino ewes registered a 2% smaller offering of 6,942 head. The category had a 73% clearance rate and prices lifted by $24 to average $134/head. 

SIL first cross ewe numbers were back 47% on last week, with the 1,606 head returning an 86% clearance and falling in lifting by $21, to average $179/head. 

Note: Prices as at 5pm Thursday, July 11, 2024.