More Sheep than Lambs at Bendigo

Yarding - 17,600

Following last week’s strong mutton sale, there were more sheep than lambs available, with 9,100 sheep compared to a slightly lower supply of 8,500 lambs. The market experienced a significant decline, marking the first notable price drop in some time. Lamb prices were generally $10 to $30 per head cheaper across a mixed offering, although it’s important to note that the very best heavy grain-fed and supermarket-style lambs maintained their value in certain instances.

A new Bendigo saleyard record was set when heavy grain-fed lambs reached $464, and some top-quality processing types sold for over 1,200 cents per kilogram, carcass weight (cwt). However, most trade and heavy lamb categories saw prices decline to around 1,100 cents per kilogram cwt, compared to last week’s benchmark rate of approximately 1,200 cents per kilogram cwt. The mixed quality of lambs contributed to the lower prices, as indicators showed less weight and finish as we move further into late winter. Additionally, buyers appeared to be more selective, showing less urgency for stock.

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A similar trend was observed in the sheep market, where prices dropped by $20 to $40, with even greater losses evident compared to the previous week's buoyant mutton sale in Bendigo. Export lambs weighing over 30 kg cwt were priced between $321 and $464, averaging around 1,165 cents per kilogram cwt. Heavy lambs weighing 26-30 kg cwt ranged from $274 to $345 per head, aligning with tendencies just above 1,100 cents per kilogram cwt. The general run of trade lambs sold for $220 to $280 per head, with prices varying from 1,000 to 1,150 cents, while select pens exceeded 1,200 cents per kilogram. More new season lambs appeared in the market, with one pen of approximately 27 kg cwt selling for $350 per head. However, there was a noticeable pullback in trade-weighted types, which sold between $253 and $285 per head, and lighter trades were priced at $210 to $225. Buyers were reluctant to pursue pens that lacked freshness and uniformity. Light lambs, particularly smaller Merino types, were cheaper, with better-framed light lambs selling for $140 to $180 per head, while smaller lambs fetched $80 to $130 per head.

The sheep market could not sustain the high prices from last week. Good heavy mutton remained the most resilient, priced at around 750 to 850 cents per kilogram cwt or between $268 and $327 for exceptionally large crossbred ewes. Lead Merino ewes sold for $234 to $272 per head. Trade and light sheep prices were erratic, often ranging from $120 to $210 per head, with valuations fluctuating between 600 and 750 cents per kilogram cwt depending on quality, condition, and number in a pen. Very light sheep were priced between $25 and $100 per head, significantly lower than last week’s results.

https://www.bendigo.vic.gov.au/Services/Bendigo-Livestock-Exchange