AuctionsPlus commercial sheep and lamb listings have continued to rise off last week's recovery in numbers, with a total of 81,158 head offered, 45% up on last week's yarding.
The clearance rate has declined six percentage points to finish the week at 65%. However, both the value over reserve and the ARLI have positively adjusted to the influx in numbers.
Prices have taken cut, with the Crossbred Lamb indicator down a further 4% from last week to average $138 a head. The AuctionsPlus Restocker Lamb indicator however has risen 35c/kg above last week's numbers to average 736c/kg dressed.
However, the value over reserve has lifted to average $13/head over set reserves, rising $4 from last week. Lots that sold during the auction averaged $14/head above reserve averaging $138/head, with the figure slightly above post-auction transactions.
The new season lamb offerings have continued to rise, with a total of 56,368 offered up 55% from the 36,301 offered last week. This week's offerings will be the greatest total of new season lambs offered across the platform this spring.
This category made up 69% of the total yarding. New season lambs achieved a 76% clearance rate, down from 83% last week. Meanwhile, the average price gained $7 per head to average $127/head this week.
With nearly 30 lots passed-in for post sale negotiation at Tuesday's National Lamb Sale, reserves are still finding their balance. AuctionsPlus' General Manager - Network, Paul Holm, believes now that processors have begun to offer longer term contracts to suppliers, reserves need to be reasonable for producers to continue to receive these deals.
"It would be optimal for agents and vendors to be mindful of the margin for trade with the processor posing a greater risk in accepting the longer term contracts," Mr Holm said.
Listings increased significantly across all states, with NSW experiencing the most significant increase in numbers. NSW listings totaled 55,897, experiencing a 15,468 increase from last week. Queensland felt a slight increase in numbers with 3,237 head listed. Offerings from South Australia and Victoria continue to rise. South Australia experienced the greatest change listing an additional 5,142 bringing the total offered to 10,284.
The NSW Riverina remained the highest listing region. With the 22,353 head listed from the region, the numbers made up 27% of the week's total sheep and lamb offerings across the platform.
Table 1: AuctionsPlus National Weekly Sheep and Lamb Prices
Report: Interactive Market Dashboard
Crossbred lambs registered 25,919 head, up 26% from the numbers seen last week, with prices increasing to average of $135 up on last week's average of $125/head. Merino Wether Lambs witnessed a sharp incline in numbers, lifting 95% from last week. The 29,715 head offered averaged $112/head, rising $16 a head from the week prior.
From Lorquon, VIC a line of 228 Border Leicester/Merino ewes April/May 22 drop and weighing 87kg returned $305/head, or 351c/kg lwt and will travel to a buyer in Hamilton, VIC
First cross ewe lamb prices felt a squeeze, averaging $158/head down $11 a head on last week. However, the clearance rate lifted to 71% from the 34% last week. From Deniliquin, NSW a line of 400 Ultrawhite/Ultrawhite ewes aged April/May 2022 drop and weighing 49kg returned $273/head, or 561c/kg lwt and will travel to a buyer in Serpentine, VIC
Not Station Mated Shedding Merino Ewe Hoggets averaged $133/head, falling $10/head from last week. Listing numbers for the category were up 10%, with 6,175 included in this week's offering, compared to 5,621 offered last week.
Note: Prices as at 5pm Thursday, September 19, 2024.
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