Exclusive sheep and lamb listings on AuctionsPlus this week declined marginally, contracting 101 head to total 84,127 head. The market was mixed with prices swinging both ways across the indicative categories. NSM Merino ewe hoggets and ewes reported price decreases whereas merino ewe and wether lamb categories reported increases.
Rain and storms across most of Australia in the last month has steadied the market at current highs, as rebuilding continues to be the main driver. Price movements have been heavily reliant upon supply with many categories swinging back and forth from week to week.
Listings for the week was dominated by SW Victoria who offered 18,380, with large numbers of crossbred lambs and merino wether lambs being offered by the region. Central West was the next highest listing region with 10,822 head offered and was also the highest purchasing region, securing 14,540 head. The region was particularly interested in SIL Merino ewes as many producers in the area continue to rebuild their flocks.
Most categories reported supply decreases this week, with only 4 categories seeing higher offerings. Crossbred lambs and shedding breed lambs saw a large influx of listings with 10,352 head and 4,890 head listed, respectively. Crossbred lamb prices fell in value by $4, to average $170, remaining relatively firm after a surge in listings this week.
Merino lamb categories achieved minimal price increases, firming up from the previous week. Merino wether lambs were in high demand with prices increasing $9, to average $143/head. The offering was slightly down from the previous week, totaling 12,627 head offered, while clearance was significantly stronger at 92%. Merino ewe lambs rose $8 to average $182/head.
SIL Merino ewes reported a surge in supplies, with just over 21,380 head offered, for which a stronger clearance was achieved of 72%. The category averaged $249 as the demand for joined ewes remains strong coming into autumn.
NSM Merino ewe categories fell in value, as did supply, with both Merino ewe and ewes hoggets reducing by roughly 50% from last weeks numbers. Prices fell $35 for NSM Merino hoggets, although demand was strong with 91% of the offering finding a buyer. Merino ewes also showcased strong demand for the smaller offering with a 71% clearance, with prices falling $29 to average $203.
NOTE: Prices revised as at 1pm Monday, 8th March.
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