Weekly cattle and sheep market wrap

Cattle market

Cattle yardings eased by 20% to 51,348 head. This week was a perfect example of how fast weather and rainfall impact markets. Widespread rain across Queensland has increased the confidence in Queensland and NSW markets, lifting the Restocker Heifer Indicator 9¢ and 29¢ in the two states. These increases also contributed to an increase of 20¢ for the National Indicator, totalling 305¢/kg liveweight (lwt).

The feeder and heavy steer market grew week-on-week. Nationally, feeders were at a 15¢ premium at 352¢/kg lwt compared to heavies at 336¢/kg lwt. The buoyant northern market drove this price premium. The inverse occurred in SA and Victoria, with finished stock fetching a higher price than feeders.  

Sheep market

The sheep market continued to trend downward despite a significant reduction in yardings. Lamb supply dipped 14% to 297,027, while mutton supply eased 5% to 115,748 head.

All sheep and lamb indicators were down 1–6% on the previous week, but are still 12–42% above year-ago prices. Throughput in the National Mutton Indicator lifted above 4,000 head, influencing a 35¢ decline to 332¢/kg carcase weight (cwt). The highest performer was the National Trade Lamb Indicator at 762¢/kg cwt, only down 6¢ from the week prior.

Slaughter

Week ending 7 February 2024

This week was a return to regular processing after the Australia Day long weekend.

Cattle slaughter remained strong at 140,296 head processed over the week, which is consistent with the growth seen over the first weeks of the year. WA was the only state operating below (-24%) last year, processing 2,468. Early in 2024 the state was dry, consistent with the elevated turnoff. Tasmania remained stable against other full processing weeks in 2025, processing 4,912 head. Queensland and NSW have held impressive numbers into the new year with 34,904 and 70,519 head respectively. SA and Victoria recorded their largest weeks this year, with 3,681 and 23,812 head respectively.

Lamb slaughter lifted 17% week-on-week to 495,457, which is 3% above year-ago levels. SA reached the largest throughput since July 2024, tipping 60,000 head. WA throughput lifted last week, though it is 2% below 2023 at 51,275 head. Victoria and NSW lamb throughput stayed strong at 25,619 and 121,716 respectively. Demand for mutton has remained level into 2025, though it is reduced from the high supply in December 2024, with 222,939 head processed nationally.

The combined slaughter reached 718,396 head, 7% above the same week last year and the largest week so far this year.

Attribute to: Erin Lukey, MLA Senior Market Information Analyst