AuctionsPlus commercial sheep and lamb listings increased 14% this week to 39,464 head, with green indicator arrows across the board. The weekly indicators were led by the clearance rate, which shot up to 75% this week, marking the highest weekly clearance since the final week of February 2024. The strong demand was mainly driven by a robust Tuesday National Lamb sale, which resulted in an 85% clearance for the 21,897 head on offer. Price over reserve lifted $1 to average $11 above set reserves, and the AuctionsPlus Restocker Lamb Indicator lifted by 165c to finish the week at 677c/kg dressed.
Last season’s lambs are still being cleared with 48% of the offering being made up of lamb lines, and as previously mentioned, to strong demand. Prices also increased, with crossbred lambs and Merino ewe lambs both seeing price rises, with Merino ewe lambs leading the charge with a $33 increase on last week to average $86/head. Crossbred lambs have continued their strong price rally, with the category averaging $138/head this week, the highest weekly price on AuctionsPlus since November 2022.
In addition to the stronger lamb prices fetched this week, the AuctionsPlus Restocker Lamb Indictor is recovering well, with the current price of 677c/kg DW 17% above the first week of 2024 and 47% above the low of 2024 which was 462c. Further to this, the current price of 677c/kg DW is closing in on the four-year average of 736c/kg DW.
Processors were active this week, purchasing 11.23% of the total sold pool or 3,345 head, with buyers securing predominantly crossbred lamb articles out of SA, Victoria and NSW.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred lambs registered a 64% increase in total head this week with the 9,183 head selling to strong prices and demand. The category finished at 88% of the offering clearing and increasing in price by $5 to average $138/head. From Muttama, NSW a line of 330 Poll Dorset/Poll Merino Aug/Sep '23 drop mixed sex lambs weighing 46kg lwt returned $161/head, or 353c/kg LW and will travel to a buyer in Thorpdale, VIC.
Merino ewe lamb offerings fell by 19%, and the smaller offering was met with robust demand seeing a 95% clearance rate and a $33 price rise to average $86/head. From Swan Hill, NSW, a line of 610 May/Jun '23 drop Merino ewe lambs weighing 39kg lwt returned $87/head.
SIL Merino ewes saw a smaller offering this week with 5,676 head offered, falling 30% from last week. The category fell in value by $10 to average $75/head and registered a 75% clearance rate. From Cumnock, NSW, a line of 260 SIL Merino ewes aged 22 months and weighing 53kg returned $120/head.
Merino ewe hoggets recorded a steep increase in offerings this week, with 180% more numbers than last week. The 1,497 head was met with lacklustre competition with a 27% clearance rate, although the selective buying resulted in a $10 rise in the average price to $70/head. From Cobar, NSW, a line of 149 Merino ewe hoggets aged two years and weighing 47kg returned $71/head, or 150c/kg lwt and will travel to a buyer in Bendigo, VIC.
Note: Prices as at 5pm Thursday, 6th June 2024.