Weekly cattle and sheep market wrap

Yardings

Prices eased across all indicators this week.

Cattle yardings are back 20% after the very large yardings from last week but are still 147% higher year-to-date. Supply from the extensive herd rebuild is reaching the market and is not expected to slow anytime soon.

Roma numbers tightened by over 2,000 head, with good quality stock presented overall (although there were some signs of a drier start to the winter in the local area). Weight, quality and finish continue to drive the market.

Sheep and lamb yardings held firm with another strong week of sales. Wagga Wagga yardings softened by 5,000 head, with some producers holding off selling stock after softer prices. This allowed prices across most weights and categories to improve at the saleyard.

Overall, it is a similar story across cattle and sheep markets. Plenty of supply and choice has meant that buyers are only will to pay for the better-quality offerings.

Slaughter

Cattle slaughter rates have returned to more normal numbers since the April public holidays. Slaughter in NSW jumped 30% week-on-week, while Queensland numbers eased 3%. Overall numbers lifted 9,369 head week-on-week and remain 19% above 2022 levels.

Lamb slaughter has also lifted 90,826 head or 28% week-on-week. This is the second highest weekly slaughter figure for 2023, with eastern states lamb slaughter only reaching above 370,000 head twice since December 2019. Both times have been in the last month, demonstrating the current supply in the market.

Goat slaughter is sitting at its highest rate since March 2017 at 47,547 head. Historically, numbers this high have been due to a seasonal element as rangeland goats dominated the industry. A trend towards more managed systems has helped to smooth seasonality of supply.

Markets update

Blackall and Bairnsdale cattle markets did not run this week.

Make sure to have your say in the Sheep Producer Intentions Survey, which collects information on breeding ewes and ram numbers and supports better decision making in the industry. This survey takes 10–15 minutes to complete and closes this Sunday 14 May.

Take survey

The latest Lot feeding brief has been released this week. Highlights for the brief can be found here, or view the full report here.

Indicator review update

From Friday 2 June 2023, all of MLA’s NLRS indicators will become “live”, updating up to 12 times per day. This will ensure users have the most accurate, reliable and timely source of livestock supply and pricing information for timely decision making.

The live pricing information can be sourced at a national, state and regional level through the indicator dashboards, including the Eastern Young Cattle Indicator.

MLA will also release the latest instalment in its indicator improvements, the “Daily Markets Summary”.

The Eastern States Daily Indicator will be retired on 30 June 2023 with a one-month adjustment period.