Supply Surge Tests Australian Livestock Markets
Australian Weekly Cattle and Sheep Market Wrap
Australian cattle and sheep markets experienced a sharp rebound in supply this week following widespread saleyard closures caused by extreme heat and the Australia Day public holiday, with cattle prices holding steady while sheep markets came under pressure.
According to Meat & Livestock Australia (MLA), yardings increased significantly across all NLRS saleyards as deferred numbers came forward. Despite the surge in supply, cattle prices proved resilient, supported by ongoing demand and tightening seasonal conditions across large parts of New South Wales, where rainfall has been below average for four consecutive months.
At Dubbo, large numbers of cow-and-calf units were offered, while Wagga saw a notable lift in calves sold directly off cows. The National Young Cattle Indicator remained steady week on week at 450¢/kg liveweight, while the Eastern Young Cattle Indicator held at 842¢/kg carcase weight. The Processor Cow Indicator eased slightly, falling 5¢ to 361¢/kg liveweight.
Sheep markets were more volatile. Domestic demand was erratic, particularly across southern NSW and Victorian centres, although feedlot buying helped underpin trade lamb prices. Mutton buyers focused on very heavy lines. The Mutton Indicator held firm at 766¢/kg carcase weight, while the National Trade Lamb Indicator fell 27¢ to 1,108¢/kg cwt.
Slaughter numbers declined across all species during the week ending 30 January, reflecting the public holiday. Cattle slaughter fell to 124,662 head week on week, although throughput remains above both 2024 and 2025 levels. Lamb slaughter totalled 367,629 head, running around 13% below last year, while mutton slaughter dropped to 138,360 head, remaining 21% lower year on year.
MLA analysts noted that while short term supply surges can pressure prices, underlying fundamentals remain influenced by seasonal conditions, herd dynamics and ongoing producer decision making.
Source: Meat & Livestock Australia | 6 February 2026
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