AuctionsPlus commercial sheep listings slipped to 34,168, a decrease of 7%. The smaller offering was met with mixed competition as clearance fell to 52% at the fall of the hammer, although it did increase significantly in post-auction negotiations with a final clearance of 68%.
Post sale negotiation may be a sign of producers and agents assessing the season and taking the “bird-in-the-hand” approach with forecasts in southern Australia still quite mixed for the upcoming months. Value Over Reserve averaged $13/head, and while back week-on-week, it again proves that achievable reserves end in positive results even in flat markets.
The crossbred lamb indicator was flat on last week’s sale, up ever so slightly $1 on last week to finish at $126, whereas the AuctionsPlus Restocker Lamb indicator continued to slide back 25 points from 649c/kg last week to 624c/kg.
Lambs continued to make up the largest portion of the offering this week, with this category accounting for 43% of total listings. The other major category of the week was SIL ewes, which made up 38% of the total catalogue. Small numbers of ewes and lambs, Merino wethers and Merino ewe hoggets made up the balance of the listings.
The restocker lamb trade appears to be driven by the dry conditions in the main listing areas of SW Victoria and the Eastern Riverina. Agents report that while these areas have received some rain, there has not been enough to stimulate any major pasture growth. The SIL listing came from very similar areas, so comparative reasons for listing could very easily be drawn.
Processors were active this week, accounting for15% of the sold offering. They were mainly active on crossbred and composite lamb types.
The majority of sheep and lambs stayed within their regions, however the processors did look interstate to fill orders, with movement mainly between Victoria and South Australia.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred lambs had a slightly larger offering week-on-week with 5,577 head offered. These were met with similar demand to the previous weeks, up $2/head, although clearance was tight with 59% at the close of trade. Composite lambs were the highlight with 3,499 offered with a 100% clearance, including from Walcha, NSW, where a line of 700 Composite/Composite mixed-sex Sep/Oct 2023 drop, and weighing 44kg lwt, returned $157/head, or 361c/kg, and will travel to a buyer in Dunedoo, NSW.
Merino wether lamb offerings were back 23% week-on-week with 4,779 head this week, with the offering selling from $31 to $90, to average $61/head – falling an average of $25/head. Taking into account the reduction in price the demand was solid, with an 68% clearance achieved and a $10 average Value Over Reserve. From Isisford, Queensland, a line of 770 Merino/Merino wethers Aug/Oct '23 drop, weighing 35kg lwt, returned $78/head, or 223c/kg and will travel to a buyer at Barmedman, NSW.
SIL Merino ewes met similar demand to last week with all lines averaging $120/head. albeit with clearance back on last week to 50%. From Wellington, NSW a line of 294 Merino/Merino ewes, aged three to fove years old and weighing 56kg, returned $134/head, or 240c/kg lwt and will travel to a buyer in Griffith, NSW.
Note: Prices as at 5pm Thursday, June 20, 2024.
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