Weekly cattle and sheep market wrap

07 Nov 2025

Key points

National cattle yardings fell 7% as producers’ sentiment increased after recent east coast rainfall.
Restocker and Processor Cow Indicators lifted due to strong demand, despite increased yardings in some states.
Restocker lamb demand strengthened following southern states’ rainfall.

Cattle market

Rainfall along the east coast improved producer sentiment, resulting in a 7% decline in national cattle yardings to 58,162 head. Yardings are now 27% below the 80,278 head seen in mid-October. Victoria recorded the sharpest week-on-week (WoW) decline, falling 32%, followed by Queensland (-11%) and WA (-5%). In contrast, NSW increased 12% after a low yarding the previous week.

The Restocker Yearling Steer Indicator rose 16¢ to 484¢/kg liveweight (lwt), driven by heightened demand from Victorian restockers purchasing in northern saleyards. In NSW, the indicator lifted 21¢, influenced by strong southern buyer activity that increased competition across key markets.

The Processor Cow Indicator also increased − rising 16¢ to 398¢/kg lwt. The lift came despite increased yardings, suggesting strong and sustained demand. Victorian prices surged 34¢ to 425¢/kg lwt, while NSW prices lifted 20¢ to 405¢/kg lwt. Queensland prices remained steady at 373¢/kg lwt.

Sheep market

National sheep yardings lifted 6% to 101,528 head following a subdued week. Despite the rise, yardings remain below the October weekly average of 111,000 head. Lamb yardings also rose 6% to 198,723 head as the flow of new season lambs continued to build.

The Light Lamb Indicator gained 18¢ to 1,045¢/kg carcase weight (cwt). Producers responded to last week's price lift, with higher yardings and strong competition from export processors. According to Meat & Livestock Australia’s (MLA) Wagga Livestock Market Officer Lean Dax, excellent quality lambs above 20kg cwt drew strong processor competition.

The Restocker Lamb Indicator climbed 26¢ to 1,116¢/kg cwt. Recent rainfall in the east has underpinned demand in southern markets. The indicator rose 60¢ to 1,149¢/kg cwt in SA and increased 58¢ to 1,128¢/kg cwt in Victoria.

Slaughter

Week ending 31 October 2025

Cattle slaughter

National cattle slaughter dropped 2% to 155,627 head after the previous week recorded the second-highest throughput volume since 2019. The drop, driven by rain across the east coast, reduced throughput in Queensland (-3%) and Victoria (-4%), although volumes remain relatively high and above the 2025 weekly state averages. The other states increased WoW throughput but not enough to offset Queensland and Victorian declines.

State-by-state breakdown of cattle slaughter:

NSW: up 0.3% at 35,938
Queensland: down 3% to 81,738
SA: up 0.2% to 3,821
Tasmania: up 11% to 5,012
Victoria: down 4% to 25,434
WA: up 2% at 3,684.

Sheep slaughter

National sheep and lamb throughput lifted 1% to 633,973 head. This lift follows seasonal patterns of increased supply resulting from the new season lamb flush and all processing plants again being fully operational. Victoria lifted 3% to 285,067 head, followed by NSW up 2% to 191,022 head and a 1% increase in WA to 91,710 head. National lamb slaughter was stable at 436,955 head with mixed state performances. Victoria’s 2% lift to 224,732 head was offset by declines in NSW (-2% to 109,206 head), Queensland (-6% to 41,946 head) and WA (-2% to 52,092 head). With the spring lamb flush this week, throughput is 3% above the national weekly average of 425,472 head.

National sheep slaughter lifted 3% to 197,018 head, led by increases in NSW (+7% to 81,816 head), WA (+4% to 39,618) and VIC (+3% to 60,335 head). This follows seasonal turn-off patterns of old and dry mutton.

State-by-state breakdown of lamb slaughter:

NSW: down 2% to 109,206
Queensland: down 6% to 1,163
SA: down 9% to 41,946
Tasmania: up 11% to 7,816
Victoria: up 2% to 224,732
WA: down 2% to 52,092.

Attribute content to Emiliano Diaz, MLA Market Information Analyst.

Information is correct at time of publication on 7 November 2025.

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