Bendigo Sheep Report

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Report Date: 15th April 2024

Total Yarding: 21,150

Commentary

A demand issue impacted the market today with reports air-freight to the Middle East has been disrupted by the latest Iran and Israel conflict. Lighter weight and MK ‘bag lambs’ were $20 to $40/head cheaper with regular processing orders not operating. Plainly presented trade lambs under 24kg cwt also cheapened by $15/head. Heavier slaughter lambs, including the big fed exports over 30kg cwt destined for other markets like the US, held their value better to be $6 to $10/head softer. The mutton market was also weaker, the heaviest sheep down to $10 to $15/head compared to a week ago while leaner trade types eased $5/head. Overall the sale today was erratic and with a cheaper tone over everything, plainer and light lambs under 22kg cwt the most affected.

There was a good run of heavy export lambs in this yarding and the over 30kg cwt crossbreds sold from $186 to a top of $236 to be costing a ballpark 640c to 650c/kg cwt. The heavy 26-30kg cwt lambs sold from $156 to $195, and the heavy trades from $147 to $160/head, these categories averaging between 615c and 640c/kg cwt. The toughest part of selling for auctioneers was plainer lambs under 22kg cwt. The 18-22kg lambs mostly $90 to $128 as carcass rates dropped. One local agency did step-in and buy bigger lambs to feed on as cost went below 600c/kg. Light lambs under 18kg cwt mostly $40 to $90/head. There was one stand-out sale of late drop little shorn store lambs, October born, which sold strongly to match recent price levels.

In the mutton run buyers were reluctant to pay over $100 regardless of weight, heavy crossbred ewes $75 to $95. Some Merino ewes in high value skins topped at $110. Leaner trade sheep were judged to have sold reasonably well in comparison to the heavier types at $50 to $78 for most.

Market reporter: Jenny Kelly