Prime & Store Sheep Reports

Crossbred and composite lamb prices improve online

Sheep Central July 1, 2024

These August-September 2023 drop Poll Dorset cross lambs weighing 41.8kg lwt sold for $166 at Cargo, NSW, on AuctionsPlus last week.

PRICES for most categories of lambs were firm to higher on AuctionsPlus last week, with clearance levels showing buyers’ clear preferences for crossbred, composite and shedding breed lines.

AuctionsPlus commercial sheep and lamb listings increased by 2.9 percent to 35,191 head last week.

The overall clearance at the end of sales was at a similar level to the previous week, down 2pc to 50pc; however, this increased significantly with post-sale negotiations to close the week at 69pc.

AuctionsPlus said value over reserve averaged $11/head over set reserves, although lots that sold during the auction averaged $17/head higher, showing the value of the auction system. Further to this, the sold at auction premium was 38pc above post-auction sales, with lots that sold post-auction averaging 4pc under their reserve prices, whereas lots that sold at auction averaged 12pc over their reserve.

Lamb prices have continued their strong run, with the crossbred lamb indicator increasing by $6 to average $132, and the AuctionsPlus Restocker Lamb Indicator increased by 38 cents to average 662c/kg dressed weight.

AuctionsPlus said joined ewes made up most of the offering with 19,168 head, or 54pc of the total, as numbers rose 29pc. Lamb articles made up the second largest pool at 13,190 head, or 37pc of the offering, which is 17pc lower than the previous week. Joined ewes benefited from the highest percent over reserve, averaging 10pc above set reserve rates, whereas lambs were 5.77pc above reserves.

Listing numbers were dominated by the central west New South Wales, with 6846 head offered, of which 65pc of the pool found a purchaser, with buyers willing to go above reserve on average by 11.59pc. Southern Queensland was the second highest region, with 3848 head, that was met with strong demand with an 84pc clearance and 16pc above reserves.

AuctionsPlus said the southern Queensland offering was heavily looked at by interstate buyers, with 57pc of the sold offering crossing the border. South-west Victoria also registered plenty of interstate purchasing, with 59pc of the 2538 sold head crossing into South Australia and NSW.

Central western NSW was also the largest purchasing region, securing 8,550 head or 35pc of the total sold offering, with south-west Victoria coming in second with 3041 head purchased.

Processer/feedlot activity dropped back to 5.17pc, with buyers interested in shedding breed lambs, Merino wether lambs and crossbred lambs.

Two lots or 535 head of new season lambs were offered last week and both lots found a buyer and averaging $6 above their reserve.

AuctionsPlus said crossbred lambs registered a smaller offering of 4647 head, as prices increased to average $132/head – up $6 for a 72pc clearance. Crossbred lambs for the month of June are averaging $130/head, which is the highest monthly average for the category since August 2022. At Cargo in NSW, 248 mixed sex August-September 2023 drop Poll Dorset cross lambs weighing 42kg lwt sold for $166/head, or 397c/kg lwt.

The offering of Merino wether lambs dropped 37pc to 2993 head, with a subdued 43pc clearance rate. Although, as a result of the smaller offering and selective purchasing, AuctionsPlus said the average price increased by $8 to $73. At Quilpie in Queensland, 690 September/October 2023 drop Merino wether lambs weighing 34kg lwt sold for $70, or 208c/kg lwt, to a buyer in Mossgiel, NSW.

The offering of scanned in-lamb Merino ewes increased 21pc to 6824 head. AuctionsPlus said the category met the demand well, with a 78pc clearance rate and the average price rising $12 week-on-week to $115. At Hay in NSW, 150 1.5-2 year-old scanned in-lamb Merino ewes weighing 67kg sold for $155/head.

AuctionsPlus sold 72pc of the 3204 scanned in-lamb first cross ewes offered for an average price of $161, down $3. At Geurie in NSW, 140 15-16 month-old first cross ewes weighing 56kg made $206/head.

Note: Prices as at 5pm Thursday, June 27th, 2024.

Source – AuctionsPlus.


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