The AuctionsPlus commercial sheep and lamb markets retracted for the second week in a row, with the 71,780 head down a marginal 2%. Apart from listings, the remainder of the indicators were all up on last week, with the recent rainfall throughout NSW and QLD breathing some confidence into the sheep market.
Value over reserve rose $8 to $14, which is the widest gap between set reserves and returned prices since late July. It suggests a subtle shift towards a seller’s market this week. Clearance also rose on last week by four percentage points to 65%, while crossbred prices averaged $64/head.
As has been the case in recent months, the market is still experiencing volatility with no clear trend. Last week’s losses were slightly offset, recovering to levels seen two weeks ago. It was 4 up and 2 down for the lamb market, while it was 3 up and 2 down for the sheep market.
The drop in listings this week can be attributed in the decline of new season lambs, with numbers coming back 17% to total 46,316 head, while the broader lamb market retracted by 21% on last week. However, the remainder of the market made up for it, with sheep tripling on last week to above 3,000 head and the NSM sheep market jumping 48% to 24,133 head. The offering of new season lambs was met with strong demand, returning a 70% clearance rate and an average of $60/head.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred lambs registered a smaller offering and the 22,134 head saw stronger demand at 71% clearance, and with prices increasing by $4 to average $64/head. From Cumnock, NSW a line of 540 Poll Dorset/Dohne mixed sex lambs weighing 40kg lwt returned $100/head, or 251c/kg and will travel to a buyer in Queensland.
Merino ewe lambs also retracted on last week with the 1,891 head down 46% on last week. That helped push prices up by $9 to average $45/head and deliver an 85% clearance. From Perillup, WA a line of 550 Poll Merino 1 year old ewe lambs weighing 46kg returned $57/head, or 124c/kg lwt and will travel east to Victoria.
Merino ewes saw a slightly larger offering than last week at 5,252 head and prices increased by $6 on last week to average $96/head. From Barmedman, NSW a line of 142 Poll Merino ewes aged 2.5 years old and weighing 71kg returned $121/head.
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Note: Prices as at 5pm Thursday, 23th November 2023
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
AuctionsPlus Interactive Sheep Market Report