Weekly cattle and sheep market wrap
28 February 2025
Key points:
- Processor cow prices broke 300¢/kg lwt for the first time since December 2022.
- Mutton slaughter has remained consistently high since September 2024.
- The third largest combined sheep and lamb slaughter on record (725,055 head) was reached last week.
Cattle market
The cattle market remained steady with minimal price movements, however, the Feeder Steer Indicator eased due to a decline in supply. Cattle yardings eased slightly by 944 to 70,984 head.
The Processor Cow Indicator lifted by 5¢ to 301¢ liveweight (lwt) to reach the highest prices since December 2022. Cows have been the standout this week, with good quality and weight selling 8–10¢ higher at Inverell. The 90CL prices have sat at over $10 for more than two months, indicating demand from the export markets for trim.
The restocker market sold to a firm market, with heifer prices lifting by 2¢ to 309¢/kg lwt. Heavyweight heifers bound for the wholesale meat trade sold for 370¢ at Warwick with an average price of 342¢/kg lwt.
Sheep market
The sheep market experienced mixed results, with the Mutton Indicator and Restocker Lamb Indicator in the green. Overall yardings lifted by 17,341 to 296,330 head, largely caused by a 29,935 head increase in lamb yardings.
The Heavy Lambs Indicator eased by 9¢ to 806¢/kg carcase weight (cwt). In the largest sheep states prices eased in NSW (20¢) and Victoria (9¢). Market reports have indicated finished lambs had inconsistent shape and fat cover compared to grainfed lambs and that there is a steady demand for heavyweight lambs.
The Mutton Indicator lifted by 11¢ to 380¢/kg cwt, with a lift in yardings by 4,073 to 68,087 head. Prices lifted in all states except NSW; however, NSW prices sit 10¢ above the national price. There continues to be a steady demand for heavy ewes and trade sheep. Particularly strong prices were seen at Wagga Wagga, with heavy ewes fetching an average price of 400–439¢/kg cwt.
Slaughter
Week ending 21 February 2025
Cattle slaughter remained flat at 144,242 head (an ease of 677 head). Slaughter lifted in NSW (256), Queensland (20) and SA (16) while easing in Victoria (682) and WA (278). Due to a more reliable labour force, slaughter has stabilised over the last fortnight.
Combined lamb and sheep slaughter reached 725,055 head, making it the third largest weekly slaughter on record (according to the NLRS). Lamb slaughter eased by 1,674 to 498,659 head; SA slaughter eased by 7,933 head (12% drop), and Victoria slaughter lifted by 5,531 head.
Sheep slaughter has continued to remain high since September 2024, with a lift of 8,174 to 226,396 head. NSW slaughter lifted by 2,428 head and SA slaughter lifted by 2,040 head. With lifts in both Victorian sheep (4,174) and lamb (5,531) slaughter, it marks the fifth largest weekly combined sheep and lamb slaughter (315,803 head).
Attribute content to Emily Tan, MLA Market Information Analyst
