Australian Cattle and Sheep Market Update
Weekly Cattle and Sheep Market Wrap: Prices Take a Downturn
Cattle Market Insights
The cattle market experienced a downturn this week. With a continued dry outlook, producers tried offloading more cattle, leading to yardings lifting by 21,192 to 81,876 head. Despite price lifts in Queensland and Victoria, buyers were more selective, looking for better lines of yearlings. The Restocker Heifer Indicator lifted by 10¢ to 286¢/kg liveweight (lwt).
Sheep Market Insights
The sheep market ended the week in the red for all indicators. Combined sheep and lamb yardings lifted by 19,421 to 316,823 head, with market reports indicating an increased number of buyers. However, prices were erratic. The Light Lamb Indicator eased by 30¢ to 697¢/kg carcase weight (cwt), with prices dropping in most states. Victorian saleyards reported light lambs sold into the Middle East, winter feeders, and store orders held their value while other animals struggled to maintain last week’s prices. There was a noticeable drop in the number of heavy lambs on offer due to the lack of quality lambs presented.
Processors appeared to prefer grain-finished lambs over grassfed lambs this week. The Trade Lamb Indicator eased by 24¢ to 771¢/kg cwt. Trade lambs at Wagga Wagga witnessed prices dropping by $8–11 to $138–200 per head compared to last week.
Slaughter Figures
For the week ending 14 March, cattle slaughter eased by 2,819 to 130,198 head. Numbers remained low due to processor closures. Queensland slaughter lifted by 3,389 head, though still lower than two weeks ago. Slaughter eased in NSW (2,012 head), Tasmania (1,015 head), and Victoria (3,913 head).
Public holidays in several states led to combined sheep and lamb slaughter easing by 48,392 to 651,235 head. National sheep slaughter eased by 10,931 to 194,797 head, while lamb slaughter eased by 37,461 to 456,438 head. Lamb slaughter eased in Victoria (38,904 head), Tasmania (2,107 head), South Australia (7,146 head), and Queensland (221 head).
Content attributed to Emily Tan, MLA Market Information Analyst.
