Weekly Sheep & Lamb Comments - Week ending Friday 16th August

AuctionsPlus commercial sheep and lamb listings were steady this week, with a total of 33,342 head offered. 

The clearance rate lifted 16 percentage points to finish the week at 72%, which was driven by demand for lamb categories which cleared 73%, while the joined ewe offering experienced more varied results with a 51% clearance rate.

The crossbred lamb indicator fell a further 11% to $114/head and the AuctionsPlus Restocker Lamb indicator lifted 3c/kg to average 688c/kg dressed.

The value over reserve averaged $8/head over set reserves, lifting $1 from last week. Lots that sold during the auction averaged $15/head above reserve, but the figure dropped during post-auction transactions.

The new season lamb offering lifted again this week, with 20,387 head up from 17,690 last week. This category made up 61% of the total yarding. New season lambs achieved a 74% clearance rate, up from 51% last week, however the average price fell to $110/head from $127/head last week.

Joined ewes made up the second-largest offering with 8% of the offering and achieving good increases in prices. 

Listings increased significantly in Queensland but fell in New South Wales. Listings also rose in South Australia, with 1,561 more head listed than last week, bringing the total to 9,275 head offered.

Central Western NSW was the largest purchasing region, securing 4,712 head, or 26% of the total offering, with the North West Slopes & Plains coming in second with 2,058 head purchased. Interestingly, purchases also increased in Victoria, where 1,644 more head were picked up than last week, bringing the total to 3,670 head.

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

Crossbred lambs registered 16,993 head, an increase of 13% compared to last week. However, the larger supply led to prices softening for the second consecutive week, averaging $114/head—a decrease of $13.  From Carabost, NSW a line of 320 Poll Dorset/Border Leicester/Merino Apr/May '24 drop mixed sex lambs weighing 19kg returned $120/head, or 649c/kg lwt. 

First cross ewe lambs saw a significant increase of $48, averaging $186/head for the 3,009 on offer. There was selective buying, resulting in a 59% clearance rate. From Gilgandra, NSW, two even lines of 200 Border Leicester/Merino first cross ewe lambs, which are Aug/Sep '23 drop and weigh 69kg lwt, returned $250/head.

Merino ewe hoggets averaged $114/head for the 773 head on offer. From Burra, SA a line of 460 Poll Merino ewe hoggets aged 14 - 15 months old and weighing 40kg returned $120/head  and will travel to a buyer in Narrandera, NSW.

Note: Prices as at 5pm Thursday, August 16th, 2024.

READ MORE: This week's cattle market results