Weekly sheep and cattle market wrap
30 September 2022
Key points:
- Roma recorded a strong sale with premium cattle on offer and strong restocker demand in the market.
- Markets are steering away from older lambs to new season young lambs.
- Slaughter has eased across the board with the short week last week.
- The Sheep Producer Intentions survey is now open for responses until 16 October.
Indicators
Variability within market indicators is expected to continue. With indicators calculated on a seven-day rolling average and so many markets not running last week, this easing in supply will impact throughput and volatility.
Roma had a very strong sale this week with quality lifting and restocker demand pushing up prices. The premium cattle on offer at the sale led to one pen of heifers topping $3,800/head. Roma traded 59¢ above the national average for the restocker yearling steer indicator, taking out 21% of the contribution.
For more information on the restocker demand in Queensland compared to NSW, view the Herd rebuilds spur difference in eastern states' demand article.
Sheep and lambs
This week, yardings at Wagga Wagga eased with wet conditions in the area. There was a shift away from old season lambs to favour the new young lambs moving through the saleyard, with extra heavy young lambs selling to processors at a top of $240/head.
On a national scale, young lambs yardings increased 189% week-on-week – with some of this increase attributed to the short week last week, which prevented some markets from going ahead.
However, when compared to figures two weeks ago, numbers have still lifted 38% – showing that new season lambs are definitely beginning to hit the market.
Slaughter
Slaughter has eased across the board this week, following last week’s national public holiday as well as the additional public holiday in Victoria.
Cattle slaughter softened 11% to 79,034 head as volumes continue to ease in Queensland and NSW. Victoria had a sharp decline that can be attributed to the three-day week.
Lamb slaughter followed a similar trend with numbers declining 21% week-on-week to 322,221 head. Lamb slaughter in the key lamb production state of Victoria eased by 29% week-on-week, although taking majority of the share numbers. This is the lowest lamb slaughter rate in the state since Christmas shutdowns.
Although there was a reduction in lamb slaughter, numbers only just dipped below 2021 figures for this time last year, demonstrating the strong supply currently moving through the market.
Next week, slaughter volumes should return to season capacity as normal operation resumes this week.
Markets
There was no Cootamundra sheep sale held this week.
Sheep Producer Intentions survey
MLA and AWI’s Sheep Producer Intentions survey opens today.
This survey aims to gain information around future intentions for the sheepmeat and wool industry, approximate flock sizes, breed makeup and lamb, wether and ewe numbers.
Producers that contribute to the survey will be provided with a personalised dashboard to benchmark themselves against other producers in their region.
To complete the survey, press the button below.
The survey will close on 16 October, so get in and have your say today.
View previous survey results here.
