Heavy rain across Queensland, combined with public holidays in Victoria, SA and Tasmania, resulted in several saleyard cancellations this week. Despite increased supply, the sheep market continued to lift across all indicators.

Market conditions remain favourable throughout Australia’s cattle supply chain as good conditions in key regions continue and demand remains elevated. Rain throughout key sheep producing regions shifted sentiment as producers retain stock, restricting supply. Cattle slaughter continues to remain at elevated levels while lamb and mutton slaughter tightens.

National cattle yardings fell 4% week-on-week (WoW) to 72,649 head, even as several key markets came back online after rain cancellations forced closures last week, including Roma. Restocker yearling heifers and steers had increased yardings of 3,703 head (up 120% WoW) and 4,744 head (up 64% WoW).

Widespread rain across northern Australia disrupted key cattle sales this week, driving national yardings sharply lower and lifting most cattle indicators. Sheep and lamb yardings also fell while prices eased, and cattle slaughter declined after last week recorded the second-highest weekly rate in six years.

Australia’s cattle slaughter is gathering momentum in 2026, with weekly processing volumes exceeding 158,000 head for the week ending 6 February.

National cattle yardings decreased 12% this week to 68,049 head. The decrease was significant across NSW (down 22%), SA (down 27%), and WA (down 21%), while the other states remained stable. Producers are holding back cattle supply in the hope that predicted rain in NSW and Queensland comes to fruition over the coming days.

All National Livestock Reporting Service (NLRS) saleyards presented significantly higher yardings this week. Despite the increased supply, prices were stable under pressure. Seasonal conditions across large parts of NSW have deteriorated over the past four consecutive months, with below to very much below average rainfall received.

Extreme heat across eastern Australia led to the cancellation of several livestock markets as animal welfare was prioritised.

All cattle market indicators dropped, excluding the Restocker Yearling Steer Indicator, which continues to strengthen early into 2026. Restocker steer yardings lifted in comparison to last week and there is a strong demand for steers to place on grass.