In a turbulent week for the sheep industry, with the official announcement of the closure of the live sheep export industry in four years, the knock-on affect of low confidence has turned last week's positive uptick in all indicators upside down.
Listings dropped 42% to 38,308, potentially indicating it was not a week vendors wanted to test the market. Value Over Reserve more than halved to fall by $6 - Value Over Reserve can be an indicator of a falling or rising market, but in this instance may just be signaling the difficult week.
On the back of reduced supply the clearance rate was steady, falling just one percentage point. It was encouraging to see that the Crossbred Lamb Indicator only fell 2% to $126 after rising 25% last week, and even better to see the ARLI Indicator, AuctionsPlus' restocker indicator, jumped 47c/kg.
Crossbred Lamb prices fell by an average of $2/head to $126 with a 95% clearance rate. Last week they lifted $26/head.
Composite/Other Breed Lambs dropped an average of $17/head this week in a listing that was 43% smaller than the previous week and a 100% clearance rate.
Joined Ewes experienced average head increases of between $22-$33/head across all categories, but NSM Shedding Breed Ewes dropped $46/head or 126c/kg.
NSW producers listed more than a third less than the previous week, while Victorians and South Australians dropped more than half. The same states purchased significantly less sheep and lambs this week, with only Queensland increasing the numbers purchased, doubling the previous week's sale and taking home 2003 head.
Processors were back in action this week, snapping up more than 6% of the market, up from 2% last week and a massive jump from the half a percent from the previous week.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred Lambs registered a 6% smaller offering with 5,324 head, with prices down by $2 on last week to average $126/head for a 95% clearance rate.
From Freeling, SA, a line of 250 White Suffolk/Merino mixed sex Sep/Oct '23 drop, and weighing 42kg lwt, returned $146/head, or 347c/kg and will travel to a buyer in Loxton, SA.
Merino Wether Lambs registered a 37% drop in offering to 6,701 head, with prices up $6/head for a 49% clearance.
From Wycheproof, VIC, a line of 219 Merino wethers, May/Jun '23 drop, and weighing 56kg lwt returned $122/head, or 217c/kg, and will travel to a buyer in Stawell, VIC.
SIL Merino Ewes registered a 35% smaller offering with 9,432 head, with prices up by $22 on last week to average $103/head for a 40% clearance.
Note: Prices as at 5pm Thursday, 16th May 2024.