Weekly cattle and sheep market wrap

Cattle market

After a high throughput last week, yardings eased slightly, though the reduced supply had minimal positive impact on prices. Despite this drop, yardings remained above the annual average at 66,522, a 14% dip from the previous week. Year-to-date, yardings are 31% higher than in 2023.

Prices weakened across the board, falling by 0¢ to 17¢. While there were some isolated cases of supply-driven increases in certain states, the overall market trend was downward.

The Heavy Steer Indicator eased 17¢ to 326¢/kg liveweight (lwt). However, it was the only indicator that experienced an increase in throughput, driven by a supply of heavy bullocks in northern Queensland saleyards. With Queensland accounting for more than 40% of throughput, the national price was affected, although Victorian and NSW yardings made between 24¢ and 39¢ above the national average.

The Restocker Yearling Heifer Indicator, which declined last week, showed no signs of recovery, holding steady at 272¢/kg lwt. Demand remained consistent across sales, but discounts on poor-quality offerings balanced the price.

Sheep market

The lamb market experienced some relief, with the positive conditions from the past month now reflecting in saleyard prices. Sheep yardings remained stable, fluctuating by less than 100 head to 90,587, while lamb yardings eased 13% to 152,969.  

The Restocker Lamb Indicator was the top performer, lifting 77¢ (13%) to 683¢/kg carcase weight (cwt). This increase was driven by improved quality, solid demand and a nearly 20% decline in yardings, which allowed for greater processor involvement.

New season lambs from NSW have entered the market, with more trade and export weights pushing through. Nearly 20,000 quality new season lambs were sold through Wagga, with strong demand at the Forbes and Bendigo markets, boosting prices and interest in other lines.

Slaughter

Week ending 27 September 2024

The King’s Birthday public holiday in WA affected slaughter numbers in the state due to a four-day work week.

Cattle slaughter remained relatively steady across most states, except for WA. National slaughter numbers eased by just 437 head, bringing the total to 139,755. By state, NSW slaughter lifted 3% to 34,419, Queensland and Tasmania both recorded 2% increases to 75,625 and 4,183 head, respectively, and SA rose by 1% to 3,280. Victoria’s cattle throughput eased by 9% to 19,986, and WA dropped by 23% to 2,262 head.  

Processors have capitalised on favourable lamb and mutton market conditions. Lamb slaughter fell 11% (46,000 head) week-on-week, down to 376,666 with declines ranging from 3% and 15% across all states except Tasmania, which increased 6% week-on-week. Conversely, sheep slaughter lifted nationally by 1% to 223,391, with increases of 2& in SA, 12% in NSW and 17% in Tasmania. WA’s sheep slaughter dropped 13%, while Victoria’s remained high but was down 4% from the previous week.

Combined sheep and lamb slaughter movements were less significant. Only Tasmania increased, with an 8% rise to 8,772 head. Throughput in NSW remained stable, changing by less than 1% to 201,858, while SA saw a slight 1% increase to 72,642. Slaughter in Queensland (1,321), Victoria (236,667), and WA (78,797) decreased by 10 % to 14%.

Attribute to: Erin Lukey, MLA Senior Market Information Analyst