Weekly cattle and sheep market wrap

14 Nov 2025

Key points

The cattle market was strong with most indicators rising.
Sheep yardings eased, while lamb supply lifted 8%.
Slaughter declined across all species, with cattle down 4% and sheepmeat throughput dropping 10%.

Cattle market

The cattle market was strong this week with all indicators up except for the cow category. Robust buyer activity aligned with good quality yardings, contributing to the lift.

National cattle yardings increased 8% to 63,414 head. The uplift was led by Victoria (+79%), SA (+37%) and Queensland (+2%) − offsetting declines in NSW (-8%) and WA (-13%).

Favourable weather with scattered rains continued to boost producers’ confidence, translating to healthy market demand. Strong competition from backgrounders and feeders fuelled the price increases. Cattle quality was generally good, supporting demand from buyers.

The Restocker Yearling Steer Indicator rose 22¢ to 506¢/kg liveweight (lwt) − the highest since 2022. This lift was driven by heightened national demand from restockers and strong competition from feeders in northern saleyards.

The National Heavy Steer Indicator rose 16¢ to 457¢/kg lwt, just 9¢ shy of 2021’s 461¢/kg lwt record. Strong demand from processors who faced competition from feeders in the 400–500kg steers range reflected market confidence.

Sheep market

National sheep yardings eased 1% to 104,826 head, driven by significant declines in SA (-32%), NSW (-6%) and WA (-17%). In contrast, Victorian yardings rose 35%. Lamb yardings increased 8% to 222,687 head as new season lamb volumes continued to build, contributing to the overall throughput lift.

The Restocker Lamb Indicator rose 44¢ to 1,149¢/kg carcase weight (cwt), supported by favourable seasonal conditions and strong buying activity in NSW, where the indicator increased 71¢ to 1,198¢/kg, surpassing the Trade Lamb Indicator at 1,177¢/kg. Firm market confidence remained as producers sought to capitalise on seasonal conditions.

The Heavy Lamb Indicator lifted 20¢ to 1,159¢/kg cwt, reflecting active bidding from domestic and export processors. Quality pens drew extended bidding periods, with some buyers adjusting their specifications to secure available stock, highlighting robust demand even in lower weights.

Slaughter

Week ending 7 November 2025

Cattle slaughter

National cattle slaughter fell 4% to 149,067 head, reflecting reduced throughput across all states due to rainfall in key producing regions. Despite the weekly decline, cattle slaughter remains 9% above year-ago levels and above the 2025 weekly average of 142,523 head.

State-by-state breakdown of cattle slaughter:

NSW: stable 0.4% to 35,795
Queensland: down 1% to 80,675
SA: stable 0.2% to 3,815
Tasmania: down 21% to 3,944
Victoria: down 16.8% to 21,158
WA: stable 0.1% to 3,680.

Sheep slaughter

National sheep and lamb throughput dropped 10% to 568,250 head. The fall was led by Victoria (-20%) and NSW (-9%). Increases in SA and WA were unable to offset the declines.

National sheep slaughter dropped 16% to 166,432 head, after reaching a five-month high the previous week. The drop was led by Victoria (-32% to 41,128 head) with almost 20,000 less week-on-week (WoW), and NSW (-17% to 67,979). However, other states, such as WA, lifted 7% to 42,386 head − the highest throughput since last March. SA also lifted 9% to 12,316 head.

National lamb slaughter was down 8% to 401,818 head with mixed state performances. Victoria dropped 17% to 186,137 head and NSW was down 3% to 106,295 head. The more favourable conditions encouraged producers to hold lambs longer to capture more weight and capitalise on a higher value per animal.

State-by-state breakdown of lamb slaughter:

NSW: down 3% to 106,219
Queensland: up 18% to 1,371
SA: up 6.8% to 44,782
Tasmania: down 18.8% to 6,343
Victoria: down 17.2% to 186,137
WA: up 9% to 56,966.

Attribute content to Emiliano Diaz, MLA Market Information Analyst.

Information correct at time of publication on 14 November 2025.

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