Sheep sales: Young ewes making $300-plus set up industry for strong selling season
The sheep industry has had an “unbelievable” start to the selling season, with young ewes making prices of $300-plus.
YOUNG ewes carried price tags of $300-plus at major store markets last week, suggesting the sheep industry is in for a hot spring selling season.
Merino ewes sold to $354 at the annual feature sale at Hay in the Riverina last Friday, while first-cross ewes reached $382 at the special Narrandera crossbred yarding – both events viewed as price indicators for the southern breeding industry.
There was a spate of sales from $300 to $340 for young ewes at Hay, with selling agents tipping an average of around $310 across the 14,000 maiden 2019 drop ewes sold.
“It has been unbelievable – I’m very happy and surprised with how well it has all gone,’’ said major vendor Rowan Houston from Hay, who sold 2019-drop ewes to $346 and then older 2.5 and 3.5-year-old breeders to $320 and $316.
It meant the majority of buyers were faced with having to outlay the most money they had ever spent on replacement stock.
Grong Grong farmer John Foley paid $336 for ewes at Hay and said it was new price territory.
“This tops it all and while I was prepared for it, I’m hoping we won’t have to pay this sort of money again,’’ he said of the $117,000 cost for 349 ewes.
Merino breeder Ian Milliken, from Wanganella, said the amount of money changing hands for sheep was phenomenal, with big lines of 300 and 400 ewes were making over $300 at Hay.
“Usually when sheep make this sort of money people split pens (buyer fewer numbers) – people have really needed a pocketful of money today,’’ he said.
However, buyers said sheep still represented a good investment based on solid returns for lamb and mutton, with wool the only component to have really lost its gloss this year.
It comes as lamb prices rally with new season lambs selling to $230 on Monday this week and the National Livestock Reporting Service quoting good lambs above 700c/kg carcass weight again.
The mutton market also spiked at Bendigo, with heavy meat ewes selling to $230, gaining $20-$30 per head as exporters stepped up competition in their quest for numbers.
Nutrient auctioneer Marc Braybon said along with the bumper season, current ewe prices were reflecting the consistent price performance of the sheepmeat industry over a number of years.
“What we are seeing is a combination of feed and the consistent profits sheep have shown over the past five years,’’ he said: “I’m hearing that even finance managers want to see sheep (in a property’s enterprise mix) due to their reliable cash flow.’’
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