*Originally published Tuesday 22nd March 2022 - Updated Friday 25th February 2022
A total of 87,272 sheep and lambs were offered through AuctionsPlus this week, down 20% on the previous week and the second consecutive weekly drop in overall listings. Following the immediate conclusion of regular commercial sheep and lamb sales on Tuesday, clearance rates were some of the lowest registered for 2022. However, extensive post sale negotiations in the days following the auction boosted clearance rates significantly across joined ewe and lamb categories.The signs of a “seasonal standoff” are strengthening, with a large volume of sales following the auction indicative of disparity between initial buyer and seller price points. The updated sale results at the end of the week provided a clearer sense of where the market prices lie, with many vendors reducing their reserves to lock in a sale.
Selective buying remained prominent across both joined and unjoined ewe categories. However, several categories made considerable gains on last week, which highlighted the comparative resilient sentiment of restockers, particularly those sourcing quality lines of breeding ewes.
Lambs accounted for 44% of the total offering this week, with a total of 38,250 head offered across the six categories, with prices for three categories averaging higher week-on-week.
Crossbred lambs totalled 9,919 head and averaged $154/head – up $3 for the week. Following the close of Tuesdays’ lamb auction, clearance rates were only at 30% for the category. However post sale negotiations boosted clearances to 61% by Thursday afternoon.
Merino wether lambs recorded the largest offering across the lamb categories this week, accounting for 15% of total listings, at 13,350 head. Prices for the category ranged between $104-$157/head, to average $126/head - back $8. A similar result was evident with clearance rates for wether lambs, increasing from 30% on Tuesday, to 70% in the following 48 hours, as the overall average price slipped slightly by the end of the week. An indicative line consisting of 860 lambs weighing 40.7kg liveweight from Thallon Queensland, returned $130/head.
Merino ewe lambs registered the highest clearance across all sheep and lamb categories this week, hitting 86%. The offering of 2,054 head, up slightly from last week, saw prices kick $30 higher, to average $183/head.
First cross ewe lambs had a total of 7,430 head listed online this week, which returned a 55% clearance rate - up from 29% on Tuesday. Prices for the category ranged between $169-$287/head, to average $224/head for the week - up $3.
Joined ewe listings accounted for 30% of the total catalogue this week with 26,804 head offered online.
SIL Merino ewes had the largest offering with 12,934 head listed. Demand improved on last week, with the category reaching a clearance of 66% - up from 47% at the immediate closure of Tuesdays auctions. Prices ranged broadly in line with quality this week, selling between $121-$332/head, to average $232/head - back $4 on last week. Topping the category was 600 two-year-old ewes weighing 63kg liveweight, split across three even lines hailing from Nyngan, NSW.
SIL first cross ewes averaged higher for the week, at $278/head - up $23. Clearance rates for the category also rose significantly throughout the week - up from only 11% post sale on Tuesday, to 53% by late Thursday for the 3,322 head offered. Station Mated shedding breed ewes returned the highest clearance across the joined ewe categories, at 78%, with the category averaging $11 higher on last week, at $288/head. A highlight for the category included a line of 169 16-19-month-old ewe hoggets from Deniliquin NSW, which weighed 77kg and returned $372/head.
NOTE: Prices as at 5pm, Thursday 24th March 2022