Weekly cattle and sheep market wrap
28 March 2025
Key points:
- Cattle prices improved due to good rainfall across the east coast.
- Mutton prices climbed to 427¢/kg cwt due to strong processor demand.
- The highest cattle slaughter since December 2019 was recorded, as well as the second-largest lamb slaughter on record.
Cattle market
Cattle prices improved this week due to widespread rainfall across the east coast. National yardings eased 33% (28,847 head) to a total of 59,708, the smallest yarding since early February. Queensland saleyards saw a dramatic reduction in throughput e.g. a 40% reduction in Tuesday's Roma sales, with stock transported from NSW and SA to a market of regular buyers.
National indicators improved due to a shortened supply-driven demand. All steer indicators lifted between 3–7% last week. The National Restocker Indicator lifted 12¢ to 366¢/kg , the National Feeder Steer Indicator lifted 13¢ to 371¢/kg lwt and the Heavy Steer Indicator lifted 24¢ to 366¢/kg lwt.
The Processor Cow Indicator saw an impressive throughput of 10,266 head with an 18¢ lift to the indicator price, totalling 286¢/kg lwt.
Sheep market
Lamb yardings eased this week, with saleyard throughput down 2% to 205,744 head. Most states reduced; however, a 5% lift in NSW and a 14% lift in SA tempered the change. Sheep throughput was down 15% to 99,554 head.
The market remained relatively stable. Strong processor demand caused mutton prices to continue climbing, up 23¢ to 427¢/kg carcase weight (cwt) due to strong processor demand. The Heavy Lamb Indicator lifted 13¢ to 794¢/kg cwt. Trade lambs remained relatively flat at 768¢/kg cwt.
In Wagga Wagga, feedlot buyers returned, responding to dry conditions across the region. Despite decent rainfall, yardings lifted at the Dubbo sales, where we saw a slight decline in the market.
Slaughter
Week ending 21 March 2025
After the prior week's dip in processing volumes due to the cyclone and long weekend impacts, the week ending 21 March was a return to normal programming. In a bid to catch up in supply, some major plants put on extra shifts, lifting slaughter numbers to impressive figures.
Cattle slaughter lifted 14% to 149,012 head week-on-week – the largest weekly throughput since December 2019. A strong first quarter of slaughter has resulted in slaughter tracking around 11% above where it sat in 2024. SA and WA lifted 1% week-on-week, to 3,830 and 2,508 head, respectively. All other states saw figures rise:
- NSW up 10% to 36,679
- Victoria up 14% to 23,150
- Tasmania up 29% to 5,083
- Queensland up 17% to 77,762.
Lamb slaughter was just shy of records, as processors caught up after short processing weeks. Nationally, 511,026 head of lamb was slaughtered (76 head below the previous record in June of last year). Currently, lamb slaughter is tracking 2% above year-to-date 2024.
A big influence on this volume was Victoria's 20% week-on-week increase to 264,579 head – its largest week ever. Lifts were seen across all other states:
- NSW was up 5% to 125,883
- Queensland was up 15% to 1,374
- SA was up 10% to 56,700
- Tasmania was up 22% to 10,189.
Despite a 11% lift (totalling 724,445), combined slaughter did not reach records. Sheep slaughter had a strong lift, up 10% to 213,419 head.
Attribute to: Erin Lukey, MLA Senior Market Information Analyst
