Key points:
- The largest combined sheep and lamb slaughter on record (718,311 head) was recorded this week.
- Interest continues in lightweight restocker heifers and steers.
- Huge numbers of light lambs are coming to market from Victoria.
Cattle market
Cattle prices have been relatively mixed, with growing interest in lightweight restockers. Yardings eased by 10,381 to 56,451 head, mainly seen in the Feeder Steer Indicator and Processor Cow Indicator.
The Restocker Yearling Steer Indicator lifted by 15¢ or by 4% to 367¢/kg liveweight (lwt). Prices lifted in most states. NSW prices lifted by 18¢, where strong local restocker demand is being experienced, particularly for lightweight steers.
The Heavy Steer Indicator eased by 11¢ to 323¢/kg lwt, from supply lifting by 193 head. The export market in Victoria experienced weaker competition leading to a drop in demand for grown steers by 19¢.
Sheep market
The sheep market performed well, with the exception of the Merino Lamb Indicator. Yardings eased across all indicators, and overall combined sheep and lamb yardings eased by 51,158 to 343,158 head.
Finding lambs over 30kg has become increasingly difficult for buyers as the season has progressed, potentially limiting any price lifts. As a result, the Trade Lamb Indicator lifted by 30¢ to 813¢/kg carcase weight (cwt). Despite mixed quality of new season lambs with some showing dryness, the average price for heavy trade lambs reached 860¢/kg cwt.
The Light Lamb Indicator lifted by 37¢ to 710¢/kg cwt. Victoria covered 48% of the light lamb market prices, which continued to lift over the last week by 43¢. There is continued interest in light lamb from both restockers and processors.
Slaughter
Week ending 15 November 2024
Cattle slaughter lifted by 4,951 to 145,687 head, marking the largest weekly slaughter since 2020. NSW and Tasmania slaughter both lifted by around 1,000 head each. Victoria experienced the largest lift in slaughter of 3,789 to 22,748 head, marking the state's second largest weekly slaughter this year.
Combined lamb and sheep slaughter experienced the largest combined weekly slaughter on record at 718,311 head. The continued lift in sheep slaughter marks the second largest weekly sheep slaughter since 2007 at 241,231 head. Slaughter has lifted in all states except NSW. The largest lift was experienced in Victoria with slaughter lifting by 19% or 10,393 head. Lamb slaughter followed a similar trend, lifting by 48,707 to 477,080 head. Slaughter lifted in most states, largely driven by Victorian slaughter lifting by 23% or 46,879 head.
This week is the final opportunity for grassfed cattle producers to participate in the Beef Producers Intention Survey.
Attribute to Emily Tan, MLA Market Information Analyst
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