Weekly cattle and sheep market wrap
09 May 2025
Key points:
- Dry conditions continue to promote cow turn-off, impacting prices.
- Despite a 15% reduction in the mutton price, weekly averages remain very firm.
- Post long weekend slaughter lifted significantly, and processors played catch-up.
Cattle market
The cattle market eased this week, with all indicators falling between 10–28¢ on the previous week. After last week’s impressive throughput, national yardings dipped 7% to 85,413 head, though it remained strong on historic averages.
The NLRS recorded a record yarding at Wagga’s Monday sale, with a significant supply of cows supporting a 2,500 head lift in the National Processor Cow Indicator. The indicator eased due to this peak in supply, falling 22¢ to 164¢/kg liveweight (lwt) on the previous week and reaching its lowest value since July 2024.
The National Feeder Steer Indicator remained firm, easing just 10¢ to 376¢/kg lwt, despite a lift in supply. NSW supported this price, with CTLX Carcoar, Gunnedah and Tamworth offering decent numbers above 400¢/kg lwt and one line reaching 550¢/kg lwt.
Sheep market
The sheep market came back once again, easing after the demand-driven surge last week. Yardings lifted significantly across all states bar Victoria, with national lamb numbers up 3% to 248,342, sheep numbers up 17% to 143,516, and a combined lift of 8%, marking 391,858.
This week saw the third largest sheep yarding in 2025. This shows how last week’s mutton prices influenced this week’s market, as producers turned off older sheep to capitalise on the trend of lifting mutton prices. Numbers through the indicator tipped 100,000. However, a shift in demand and a mixed offering led to a 94¢ correction to 530¢/kg cwt over seven days. Despite this 15% price reduction, it remains the second-highest weekly average price since 2022.
The Heavy Lamb Indicator saw very little movement, lifting less than 1¢ to 849¢/kg cwt despite an 11,600 head reduction in throughput.
Slaughter
Week ending 2 May 2025
Slaughter lifted last week, the first regular processing week in a fortnight. Processors competed in a stronger market to bounce back throughput in regular operation. Note that the next report for the week ending 9 May will also be interrupted by the Labour Day holiday in Queensland.
Cattle
National cattle slaughter lifted 84% to 144,226 head over the week. Looking at year-to-date cattle slaughter as a more appropriate comparison, 2025 is operating 9% above where we were at the same time last year, driven mainly by elevated Victorian throughput.
Weekly change by each state:
- NSW up 111% to 32,378
- Queensland up 86% to 76,984
- SA up 33% to 3,024
- Tasmania up 64% to 4,989
- Victoria up 56% to 24,373
- WA up 7% to 2,478.
Sheep and lamb
National lamb slaughter lifted 62% to 519,608 head for the second-largest throughput week on record. Demand for mutton remains strong from processors lifting prices, though supply constraints have impacted throughput. Numbers were up 50% on the past short week for 171,932 head, one of the year's smaller mutton weeks.
Looking at year-to-date comparisons, lamb slaughter is tracking quite close at 2% above the 2024 figure, while mutton sits around 8% above.
Weekly change in lamb slaughter by each state:
- NSW up 60% to 137,168
- Queensland up 47% to 1,560
- SA up 68% to 58,467
- Tasmania up 54% to 11,545
- Victoria up 61% to 249,862
- WA up 66% to 61,006.
Attribute to: Erin Lukey, MLA Senior Market Information Analyst
