Prime & Store Sheep Reports

NSW and Victorian buyers dominate last 2023 online purchases

Sheep Central, January 8, 2024

These 2023 drop mixed sex Poll Dorset cross lambs at Carcoar NSW averaged 37kg lwt and sold for $112 on AuctionsPlus last month.

NEW South Wales and Victorian buyers led the pre-Christmas online sheep and lamb buying in the last AuctionsPlus sales for 2023.

The AuctionsPlus commercial sheep and lamb markets experienced a substantial decline in the week upto 22 December, as the industry shut down for the Christmas period.

Despite the Christmas break affecting the total number of offerings – that was much lower than the previous week – the market responded strongly to the reduced offering of 35,873 head.

The remaining market indicators were unaffected by the disjointed week, reflecting two consecutive weeks of positive indicator results, AuctionsPlus said. This positive trend is driven by the recent uptick in confidence and the lower supply on offer. Clearance rose by 1 percentage point to 85 percentage, the Value Over Reserve averaged $16 above set reserve levels, and the AuctionsPlus Restocker Lamb indicator increased by 12pc to 523c/kg dressed weight.

Listings were predominantly from New South Wales, accounting for 19,469 head or 54pc of the total offering, followed by South Australia at 8479 head or 24pc of the total.

AuctionsPlus said NSW buyers bought 10,828 lambs and sheep, and Victorians, 9327 head. Notably, 88pc of the NSW purchases were secured within the state. In contrast, Victoria buyers actively sought listings from interstate, acquiring 60pc of their total from NSW and 23pc from South Australia, with the remaining 17pc sourced locally.

Victorian purchasers focused primarily on securing Merino wether lambs and composite/other breed lambs from NSW, while composite/other breed lambs were also sought from South Australia, AuctionsPlus said.

The start-to-reserve gap averaged 9pc for the week, slightly lower than in previous weeks. For lots set with a gap of less than 10pc, a 93pc clearance rate was achieved. Lots with gaps higher than 10pc returned a 69pc clearance rate.

Across the board, lots that sold at auction outperformed lots that sold post-sale, averaging a 2pc premium, AuctionsPlus said. Sold at auction lots averaged a Value Over Reserve of $19 above set reserves, with the start-to-reserve gap averaging 8pc for an average $85/head set reserve and a $104 returned price. In comparison, lots updated to sold post-sale averaged a -$1 VOR, a start-to-reserve gap of 10pc, an average set reserve of $103 for a final selling average of $102.

AuctionsPlus sold the 9955 crossbred lambs offered. The thin supply was hotly contested, with the average price lifting $4 to $92/head. At Dunneworthy in Victoria, 480 mixed sex May-June 2023 drop Poll Dorset cross lambs weighing 46kg lw made $120.

The Merino wether lamb offering reached 7535 head, but the smaller pool of listings wasn’t sufficient to maintain prices at the previous week’s level, AuctionsPlus said. Average returns decreased by $17 to $45/head, yet clearance remained strong at 80pc. From Goolma in NSW, 600 store Merino wether lambs weighing 36kg lw sold for $62.

Merino ewes were keenly sought and all lots found a buyer. The 1832 head averaged $97, up $20 from the previous week. At Snowtown in South Australia, a vendor achieved the top price with 497 2.5-5.5 year-old  Poll Merino ewes sold in four lots. The 55-68kg lwt ewes sold from $103-$168.

Note: Prices as at 5pm Thursday, 22nd December 2023

Source – AuctionsPlus.

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