Sheep and lamb listings registered another decline this week, at 57,095 head – back 6% on last week. Clearance rates remained steady on last week, hitting 46% following the immediate closure of both sheep and lamb auctions, as selective buying remained dominant heading into the Easter long weekend. Seasonal uncertainty across several key regions, combined with increased buyer awareness resulted in an overall softer market.
Lamb listings reduced this week, with a total of 23,209 head listed in the National Lamb sale - offered across 85 lots. Prices across three of the six lamb categories eased week-on-week, with the reduced offering achieving mixed clearance rates across the categories following the immediate close of auction.
Crossbred lamb numbers eased slightly on last week, selling from $111-$181, to average $156/head, back $4 for the 9,693 head offered.
The supply of Merino wether lambs outweighed demand during the auction, with the 6,611 head offered registering a very low clearance at auction end, with prices easing back $6 on last week, to average $113/head. Merino ewe lambs registered a price increase this week, with the category up $30, to average $156/head. Clearance rates for the category were down significantly on last week however, reaching 28%. Low clearance rates registered across both Merino ewe and wether lamb categories was indicative of selective buying this week. Post-sale negotiations in following days will provide further indication of sentiment in a clearly softening market.
The small offering of shedding breed lambs achieved the highest clearance across all categories – reaching 91% for the 917 head offered. Prices were back slightly on last week, selling from $100- $176, to average $138/head – down $2. Composite/other breed ewe lambs prices remained steady on last week, averaging $148/head. Clearance was strong for the category, achieving 74% for the 1,442 head offered - the second highest rate achieved at auction end this week.
Joined ewe numbers totaled 20,226 head, down slightly on last week – accounting for 35% of the total offering.
SIL Merino ewes saw the largest offering across the joined ewe categories, with 12,995 head listed. However, selective buying was again prevalent, with clearance reaching 48%. Prices ranged from $155-$347, to average $236/head – up $2, with the category registering the only price rise week-on-week across the joined ewe offering.
SIL First cross ewes saw prices remain steady on last week, averaging $286/head for the 1,410 head offered. SIL Shedding breed ewes recorded the greatest decline in prices, selling from $114-$306, to average $224/head – back $341. The decline in prices for the category coincided with reduced listings and clearance rates - reaching a 47% clearance for the 581 head offered.
Unjoined ewe listings accounted for 12% of the weekly offering with 6,760 head offered. Prices and clearance rates across three of the four categories were impacted by cautious buying and an overall softer market.
NSM Merino ewe hoggets registered a reduced supply this week, with the 812 head averaging $196/head, down $7. NSM Merino ewes recorded the only price increase for the unjoined categories, averaging $174/head – up $16 on last week. Clearance rates were strong, with the category achieving 62% across the 2,339 head offered, again the highest for the unjoined ewe categories.
NOTE: Prices as at 5pm, Tuesday 12th April 2022
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