Beyond the Saleyards: Sheep prices continue to slide

Sheep prices are lower again, with the risk of foot-and-mouth disease entering Australia coupled with an oversupply of stock putting pressure on prices. Labour shortages are still putting a strain on processing capacity, which is also contributing to lower sheep prices. Many processors are still four to five weeks out until booking space becomes available. Another factor pressuring lamb prices is that cold stores in Australia and the US are relatively full, meaning buyer demand is off until some of the backlog clears. Wool markets are back trading next week after the three-week break. Direct cattle prices have imploded since June and are off a solid 80¢/kg carcass weight. However, both the Eastern and Western Young Cattle Indicators had a slight recovery this week, closing 23¢/kg and 43¢/kg higher, respectively. Smaller yardings were behind the push higher, which led to prices not seen since early June. Processor and feedlot market bids at the start of the week (¢/kg or $/head): ● WA market indices: Weaner steers 622¢, weaner heifers 518¢. Yearling steers 458¢, yearling heifers 416¢. ● SA market indices: Yearling steers: 530¢, yearling heifers: 480¢. ● East coast processor prices: MSA: steers 770¢, heifers 765¢. Cows 670¢. Jap Ox: steers 740¢, Bulls 545¢. ● Queensland feedlots: Black Angus: 550¢, Black Angus British X: 530¢, Wagyu X Angus: POA. To contact buyers and for more price information, please log in to the Agora Livestock Markets app or online at www.agoralivestock.com.au. Rob Kelly is the founder and managing director of Agora Livestock, a free service with the latest sheep, cattle and goat price grids in one easy-to-use app.