Weekly cattle and sheep market wrap
06 June 2025
Key points:
- Cattle prices remained stable, reflecting national confidence.
- Mutton prices rose to their highest level since 2022, despite a mixed lamb market.
- Lamb slaughter volumes reflect a seasonal decline in supply.
Cattle market
Cattle yardings rose by 8,345 head to 72,045 for the week, a 13% increase, demonstrating consistent supply.
Prices remained relatively steady, with most indicators lifting between 0–7¢. The only exception was the Restocker Yearling Steer Indicator, which eased 6¢ to 398¢/kg liveweight (lwt). Meanwhile, the Restocker Yearling Heifer Indicator lifted 7¢ to 329¢/kg lwt, returning to April price levels.
The current premiums for restocker steers (389¢/kg lwt), feeder steers (385¢/kg lwt) and heavy steers (355¢/kg lwt) reflect ongoing confidence in the national market, particularly driven by trading activity in southern states, where finished steers are commanding a premium over restockers.
Sheep market
Sheep supply remained relatively steady last week, consistent with seasonal supply constraints. Lamb yardings dipped slightly (less than 1%) to 205,848, while sheep yardings rose 2% to 98,764 head.
Lamb prices held firm overall. Only the National Trade Lamb Indicator and National Heavy Lamb Indicator eased by 32¢ and 14¢ to 973¢/kg and 972¢/kg carcase weight (cwt), respectively. The narrow 1¢ difference between the two indicates a strong demand for volume rather than past premiums. A similar trend occurred between the Restocker and Light Lamb categories, priced just 6¢ apart at 875¢/kg cwt and 881¢/kg cwt, respectively.
The Mutton Indicator lifted again, up 18¢ on the week prior, now at 635¢/kg cwt, its highest level since June 2022.
Slaughter
Week ending 30 May 2025
Cattle
Cattle slaughter volumes reached their highest volume since 2019, with 153,100 head processed, an increase of 531 head from the previous week. Small gains in Queensland and Victoria pushed both states to their highest weekly throughputs since 2019 and 2020, respectively.
State-by-state breakdown of cattle slaughter:
- NSW: down 2% to 34,531
- Queensland: up 1% to 80,587
- SA: steady at 3,789
- Tasmania: down 1% to 5,159
- Victoria: up 2% to 26,451
- WA: up 5% to 2,583
Sheep
Lamb slaughter fell sharply, down 8% for a national throughput of 460,626 head. A combination of seasonal supply constraints and forward contracting reduced the availability of slaughter-ready lambs. This resulted in the shortest full processing week of 2025 to date. This drop brings lamb slaughter volumes closer in line with 2024 year-to-date figures.
National sheep slaughter eased 4% to 177,085, though strong processing levels in previous weeks have kept year-to-date volumes 5% ahead of 2024 figures.
State-by-state breakdown of lamb slaughter:
- NSW: down 10% to 110,059
- Queensland: down 1% to 1,452
- SA: down 7% to 54,344
- Tasmania: down 15% to 9,904
- Victoria: down 8% to 221,818
- WA: down 2% to 63,049
Attribute to: Erin Lukey, MLA Senior Market Information Analyst
