Weekly cattle and sheep market wrap

05 Jun 2026

Key points

Significant rain across most of the country had a positive impact on markets, lifting almost all indicators across sheep and cattle.
The Mutton Indicator broke a record at 858¢/kg cwt.
Cattle slaughter remains historically elevated.

Rainfall across significant parts of the country has boosted most market indicators as both cattle and sheep regions receive helpful boosts to feedbases.

Recent rainfall has shifted on-farm conditions, turning what had been difficult circumstances – and a still-present outlook for a dry winter – from a clearly negative sentiment to a more positive one, as producers now have workable conditions heading into winter. While limited supply (especially in lamb and sheep) is still a big factor in high prices, the rain has stoked demand.

Cattle market

The national cattle yarding fell 6% to 67,931 head. The smaller yarding and timely rain pushed most indicators higher. The Heavy Steer Indicator was the only one to fall, decreasing 1% to sit at 452¢/kg liveweight (lwt). The National Young Cattle Indicator (NYCI) lifted 4% over the week to reach 522¢/kg lwt.

The Feeder Heifer Indicator lifted 5% to 481¢/kg lwt across an offering of 5,015 head. Supply has started to retract for the first week of winter and brought an increased price.

The Restocker Yearling Steer Indicator had the biggest increase over the week, lifting 5.3% to 540¢/kg lwt across an offering of 4,742 head. Roma made up 48% of the yarding and the price sat just above the national aggregate at 542¢/kg lwt.

Sheep market

The national lamb yarding fell 19% to 118,967 head and the national sheep yarding fell 24% to 46,475. The yarding in WA was especially low, offering 9,406 lambs and 5,824 sheep across Katanning and Muchea due to the state public holiday and a severe weather event through the south-east. All market indicators lifted, except for the Merino Lamb Indicator which remained flat at 1,111¢/kg carcase weight (cwt), representing an 8% lift on month ago levels. The Dubbo report noted a stronger market despite several usual buyers not operating.

The Mutton Indicator broke a record, reaching 857¢/kg cwt across an offering of 34,494 head. The previous record set in April was 837¢/kg cwt. The record comes as processors remain in competition for mutton while producers retain breeding stock as winter sets in.

The Heavy Lamb Indicator lifted 1% over the week to 1,132¢/kg cwt across an offering of 24,313 head. NSW saleyards made a premium at 1,148¢/kg cwt, making up 63% of the offering. Market reports in Victoria consistently noted the excellent condition of lambs coming off supplementary feeding.

Slaughter

Week ending 29 May 2026

Cattle

National cattle slaughter dropped 2% week-on-week to 163,245 head. March monthly export data released this week showed a slight reduction in beef to China as the safeguard quota approaches. However, South Korean exports lifted, taking up the reduction. Slaughter remains historically elevated.

State-by-state cattle slaughter year-on-year (YoY):
NSW: up 12% to 38,714 head
Queensland: up 4% to 83,701 head
SA: up 2% to 3,874 head
Tasmania: down 0.5% to 5,143 head
Victoria: up 6.5% to 28,171 head
WA: up 41% to 3,642 head.

Sheepmeat

National lamb slaughter lifted 2% to 406,861 head, while national mutton slaughter lifted 22% to 116,427 head.

State-by-state lamb slaughter (YoY):
NSW: up 12% to 123,592 head
Queensland: up 6% to 1,540 head
SA: down 27% to 39,678 head
Tasmania: down 51% to 4,876 head
Victoria: down 13% to 192,153 head
WA: down 28.5% to 45,022 head.

Attribute content to: Alex Fry, MLA Market Information Analyst

Information is correct at time of publication on 5 June 2026.

MLA makes no representations as to the accuracy, completeness or currency of any information contained in this publication. Your use of, or reliance on, any content is entirely at your own risk and MLA accepts no liability for any losses or damages incurred by you as a result of that use or reliance. No part of this publication may be reproduced without the prior written consent of MLA. All use of MLA publications, reports and information is subject to MLA’s Market Report and Information Terms of Use.