Weekly Sheep & Lamb Market Report

Week ending Wednesday, January 28

AuctionsPlus commercial sheep and lamb offerings closed the week ending Wednesday, January 28 with 43,843 head listed, with supply softening from last week. However, demand remained firm, with clearance rates lifting three percentage points to 80% and buyer competition strengthening across key lamb categories.

The AuctionsPlus Restocker Lamb Indicator (ARLI) continued its upward momentum, lifting 35 cents to 1,212 c/kg DW. This places the indicator well above typical January levels and highlights the strong restocker demand, even amid challenging seasonal conditions including the widespread heatwave currently occurring across much of Australia.

Merino wether lambs recorded one of the strongest week-on-week gains, rising $9 to average $175 per head and clearing at 95%. Crossbred lambs, the largest offering, averaged $194 per head, easing slightly by $3 but still achieving a solid 90% clearance.

First cross ewe lambs also achieved price improvements, lifting 53c/kg to average 565 c/kg DW, reflecting continued confidence in restocking and future breeding potential.

Interstate purchasing increased four percentage points to 40%, while the value over reserve improved by $15 to $28, reinforcing the positive underlying demand. Listings fell most notably from New South Wales and Victoria, while buyer activity increased from Victoria, South Australia and Queensland.

Overall, the market held firm, with reduced supply and improving indicators underpinning a positive outlook heading into February.

Processors accounted for 1.4% of all purchases made.

HIGHLIGHTS

From Cudgee, VIC, a line of 26 CHAROLLAIS ewes aged 2 years old and weighing 72kg returned $750/head and will travel to a buyer in Oberon, NSW.

Week ending Wednesday, January 14

AuctionsPlus commercial sheep and lamb numbers lifted sharply for the week ending Wednesday, January 14, with total offerings rising to 63,977 head, up 280% week-on-week. Despite the larger yarding, demand held up well, with the clearance rate improving to 76%, up 4 percentage points.

The AuctionsPlus Restocker Lamb Indicator (ARLI) eased to 1,187c/kg DW, down 45c/kg DW. While this was the largest week-on-week movement across the key indicators, the ARLI remains historically strong and still reflects a market operating at elevated levels compared to longer-term averages. This week’s softer result appears more like a correction under heavier supply rather than a major shift in restocker confidence, particularly with clearance rates strengthening at the same time.

Lamb price movements were mixed, with first cross ewe lambs, averaging $217/head, and crossbred lambs averaging $180/head, down $16/head. Shedding breed lambs also eased to $165/head, down $27/head, while composite/other breed lambs averaged $203/head. The standout improvement came from Merino wether lambs, which lifted to $175/head, up $43/head.

Sheep categories were generally steadier, with some positive signs in breeding types. Merino ewe hoggets averaged $205/head, up $16/head, and composite/other breed ewes improved to $278/head, up $12/head. The softer point was shedding breed ewes, averaging $223/head.

Interstate demand strengthened, with interstate purchasing rising to 42%, up 14 percentage points, helping underpin clearance despite the sharp lift in listings. The biggest week-on-week shift was the surge in catalogue volume, while buying activity remained broad-based, reinforcing that demand is still present even as the ARLI moderated.

Processors accounted for 3% of all purchases made.

HIGHLIGHTS

From Yanac, VIC, a line of 225 Poll Merino wether lambs May/Jul '25 drop and weighing 53kg returned $244/head and will travel to a buyer in Loxton, SA.

From Holbrook, NSW, a line of 405 White Suffolk/Merino mixed sex lambs Jun/Jul '25 drop and weighing 47kg returned $231/head and will travel to a buyer in Dubbo, NSW.

From Byaduk North, VIC, a line of 164 Composite ewes aged 2.6 to 2.7 years old and weighing 69kg returned $354/head and will travel to a buyer in Hamilton, VIC.

Week ending Wednesday, Jan 7

The AuctionsPlus Restocker Lamb Indicator opened the year at 1,233 c/kg DW, remaining consistent with late December levels. On a per head basis, the ARLI sat at $201, well above long-term averages and reflective of resilient restocker demand heading into the new year.

Crossbred lambs were well supported, averaging $196/head with a strong 96% clearance, while Merino wether lambs averaged $132/head. First cross ewe lambs attracted premium interest, averaging $359/head, and Merino ewe lambs achieved full clearance at an average of $178/head, albeit from smaller numbers.

Ewe markets were mixed but generally positive. Merino ewe hoggets averaged $189/head and cleared in full, while composite and other breed ewes averaged $266/head with an 87% clearance.

Buyer participation remained broad, with 12,100 head purchased nationally. South Australian buyers were the most active, followed closely by NSW and Victorian buyers, with new buyers also entering the market and supporting competition.

New South Wales accounted for the majority of supply at 7,880 head, followed by Victoria with 5,117 head and South Australia with 2,180 head. Clearance rates were strongest in South Australia at 98%, while NSW and Victoria recorded 78% and 75% respectively, highlighting continued competition where quality and suitability aligned with buyer demand.

HIGHLIGHTS

From Narromine, NSW, a line of 110 Border Leicester/Merino first cross ewe lambs Mar/Apr '25 drop and weighing 64kg returned $371/head and will travel to a buyer in Stockinbingal, NSW.

From Gnarwarre, VIC, a line of 91 Suffolk ewes aged 18 to 19 months old and weighing 68kg returned $400/head and will travel to a buyer in Blayney, NSW.

From Karabeal, VIC, a line of 625 Poll Dorset/PRIMELINE mixed sex lambs Jun/Aug '25 drop and weighing 52kg returned $245/head and will travel to a buyer in Stawell, VIC.