Key points:
- Dubbo's Monday sheep sale was stronger across the board, with Dorpers and Merinos a highlight in the sales
- Processors purchased 70% of the total Wodonga yarding on Tuesday, a positive sign for the sector
- Record breaking rain in far western NSW may place downward pressure on historically high goat slaughter volumes.
Dubbo's Monday sheep sale
- Dorpers rose in price by 70c week-on-week to average 800c/kg cwt, even with an increase in the yarding by 2,291 head.
- An increased yarding of 2,271 heavier processor lambs placed downward pressure on the market, causing it to soften by 33c to average 842c/kg cwt.
- These lambs were at the heavy end of the trade weight spec, averaging 24.9kg/head.
- An increased supply of 863 Merino ewes did not dampen demand, as the average price rose 29c week-on-week to finish at 640c/kg cwt.
- Dubbo's Merino ewe price is currently operating at a 7% or 42c/kg cwt premium to the National Mutton Indicator (NMI).
NVLX Wodonga's Tuesday cattle sale
- On Tuesday at Wodonga, processors purchased 70% of 800 head yarded.
- As conditions improve for the processing sector, competition was fierce for processor cattle, lifting the average price by 26c week-on-week to average 439c/kg lwt or $2,307/head.
- The draft of processor cattle averaged a healthy 545kg/head lwt and increased in numbers week-on-week by 60 head.
- Meanwhile, yearling steer numbers remained firm, although the articles price rose 76c week-on-week to average 546c/kg lwt.
- The draft averaged 446kg/head and made $2,430/head.
- This is a store value in line with what steers are currently making at the weaner sales across the eastern seaboard at present – a sign of the strength of current saleyard cattle prices.
Goat slaughter
For the week ending Friday 28 January, goat slaughter softened week-on-week by 17%, although the figure remained stronger than both 2021 and 2020 volumes.
Looking ahead, following significant and in some cases record breaking rains for far western NSW and parts of Western Queensland this week, goat slaughter is softening.
This may indicate a significant rebuild of these regions' goat herds, supported by exclusion fencing and increased management rather than ad-hoc harvesting as producers continue to recognise the value of the animal as an enterprise option within their production systems.
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