Deniliquin store sheep: Prices hold up better than expected

Buyers and sellers were surprised at today’s store sheep sale, with quality pens driving strong bidding. See the results.

PRICES were cheaper but the store sheep market didn’t take the severe “haircut” many agents and producers had been bracing for at Deniliquin today.

A big crowd rolled up for the 30,000-plus yarding, which was viewed as a major test of producer confidence after mutton prices melted down to low levels of less than 300c/kg cwt this week.

Keith Buckingham, The Frontage at Jerilderie, paid $252 and $243 for young Merino ewes at Deniliquin today in a stronger market than he had anticipated. He is pictured with agent Steve Grantham, Elders Corowa. Picture: Jenny Kelly

Young first-cross ewes of a joinable size sold to $258 to be just ahead of the best rising two-year-old Merino ewes, which reached $252.

In between there were many sales between $120 and $200 for mixed quality ewes with some flat spots in the auction. But the verdict from both buyers and sellers was prices had held up better than expected for any sheep showing a bit of quality.

The best price of $252 for Merinos went to Goolgumbla of Jerilderie for 550 maidens that were April-May 2021 drop and August shorn. After a slow start at $160 a bidding dual between two buyers carried the pen to $252.

They were sold to Keith Buckingham, The Frontage, at Jerilderie, who also purchased the adjoining pen of 348 same-age Merino ewes from Hawkesnest of Conargo.

Mr Buckingham said the market had showed more sting than he had anticipated.

“Coming into today I thought these ewes would have been $40 to $50 cheaper than they were,’’ he said: “But when we got to the sale and seen all the cars here my expectations went up a bit.’’

Mr Buckingham said he had sat out of the market for the past couple of years due to record high sheep prices, opting instead to carry on his old ewes, which are now approaching eight to nine years and now to be culled.

Keith Buckingham, The Frontage at Jerilderie, paid $252 and $243 for the lead pens of young Merino ewes sold at Deniliquin today – dearer than he had anticipated. Picture: Jenny Kelly

He rated today’s prices as more reasonable, and was prompted to trade again with the prospect of a much drier season on the cards.

“Ewes got too expensive so I sat out – it is much more reasonable now,’’ he said. “And I don’t think we are going to get the wet weather of the last two or three years and you can’t afford to be holding old sheep in dry times.’’

The top price of $258 was for the opening pen of first-cross ewes offered by Telko, the pen comprising 238 head that were March-April 2022 drop and September shorn.

Other young first-cross ewe with less growth and condition sold from $150 to $200. This was followed by several lines of White Suffolk Merino-cross ewes, and the market showed premiums for these have disappeared now the flock has rebuilt. They often only made similar money to the store or prime market at $120 to $176.

Merino wether lambs sold to $136 for a big line of 653 head from North Run, which were May-June 2022 drop and September shorn and showed good frame size. The second run made $100.