Sheep Market Summary – 7 May 2026

by | May 7, 2026 | Feedlots, Processing, Sheep

Previous Close Sheep Markets Summary

Sheep markets showed mixed to firm trends nationally, with reduced supply in several key states supporting stronger competition for trade and heavy lambs, while store lambs and some mutton categories remained under pressure in line with more selective buying conditions.

The trends appear to be:

  • Supply reduced in several regions, particularly NSW and VIC, though WA lamb numbers lifted
  • Buyer demand generally active for quality stock, especially trade and heavy lambs
  • Store and secondary lambs under pressure, especially in larger or plainer yardings
  • Mutton mixed, with firm-to-dearer trends in some NSW and WA centres but softer results in VIC and parts of NSW
  • Restocker activity variable but supportive in selected NSW sales
    Market remains highly quality-driven, with clear price premiums for well-finished lambs

 

East Coast (NSW, VIC) 

  • Overall mixed to firm, with stronger lamb prices in NSW supported by tighter supply, while VIC trends were softer due to quality and buyer selectivity
  • NSW (mixed to firmer overall):
    • Forbes saw sharply lower lamb supply (8,300; -20,150) with a firmer tone overall, as most lambs and sheep lifted $5–$8/head despite softer mutton
    • IRLX Inverell recorded reduced yarding (2,547 lambs, 1,636 sheep) with strong competition lifting most categories, including standout heavy lambs exceeding $400/head
    • Yass (SELX) showed mixed conditions, with heavier lamb pressure but stronger demand for lighter and trade lambs alongside firmer mutton values
    • Carcoar (CTLX) saw increased lamb numbers but firm trade demand, with softer heavy lambs and slightly improved mutton due to reduced supply

Summary: Mixed but generally firm market, with strong competition supporting trade and heavy lambs, while heavy lamb pressure and variability in mutton remain evident

  • VIC (softer to mixed):
    • Ballarat saw reduced lamb and sheep numbers (14,730 lambs, 2,900 sheep) but softer tone overall due to quality and selective buying, with some easing in categories despite solid trade interest

Summary: Softer market compared to NSW, with quality and buyer selectivity limiting gains despite reduced supply

South Australia

  • Mixed conditions across sales, with firm trade demand in some centres but softer pressure in others:
    • Naracoorte (2,069 lambs, 1,078 sheep) saw stable yardings and firm prices overall, with strong demand for top-quality heavy lambs and sheep
    • Dublin (5,500 lambs, 1,000 sheep) recorded softer trends overall due to lower quality, though store lambs, trade weights, and light mutton held firmer

Summary: Generally mixed but reasonably steady market, with quality driving outcomes more than supply

Tasmania

  • Powranna (1,013 lambs, 1,210 sheep) saw a softer tone overall, with well-finished lambs and mutton holding firm but large supplies of small store lambs and light sheep under pressure

    Summary: Softer market driven by weaker demand for lower-end stock, while quality lines remain supported

    Western Australia

    • Muchea saw strong lamb supply (7,029 lambs, 3,876 sheep) with firm to dearer trends across most categories, supported by strong competition from feedlot and eastern buyers, while mutton also improved

     

    Summary: Firm to stronger market, underpinned by strong buyer demand and improved competition

    👉 See full sale reports and videos below 

     

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    Sheep yardings & reports

    Queensland
    • Warwick sheep report (MLA): Yarding: 2,544, (-155). Increased numbers of plain young lambs saw easier trends, while scarce trade lambs and all sheep categories sold to stronger competition and dearer prices. Full report available here
    New South Wales
    • CTLX Carcoar sheep report (MLA): Yarding: 8,400, (-170). Increased lamb supply and improved quality saw firm trade prices but softer heavy lambs, while reduced mutton numbers lifted prices slightly despite lower quality. Full report available here
    • SELX Yass sheep report (MLA): Yarding: 15,290, (+3,050). Steady lamb supply saw mixed trends with dearer light lambs, firm trade weights and softer heavy lambs, while improved mutton quality pushed prices higher. Full report available here.
    • Cowra sheep report (MLA): Yarding: 3,750, (+100). Steady numbers and improved quality saw firm trade lamb prices but softer competition overall, with heavy lambs easing while mutton remained mostly steady. Full report available here
    • Forbes sheep report (AWN) (5/5) View the latest report here
    • Northern Wool Report (AWN) Watch the latest report here
    Victoria
    • Horsham sheep report (MLA): Yarding: 4,600, (-1,550). Reduced yardings saw firm demand for well-finished lambs and generally steady sheep prices, while plainer types eased slightly amid selective buying. Full report available here, 
    • Hamilton sheep report (MLA): Yarding: 10,300, (-1,900). Reduced yardings and mixed buyer activity saw stronger prices for heavy lambs and sheep, with lighter trade lambs firm and increased numbers of store types. Full report available here
    • Southern Wool Report (AWN) Watch the latest report here
    South Australia
    • Naracoorte sheep report (Elders) (5/5): Yarding: 3,145. View the latest report here
    Western Australia
    • Katanning sheep report (MLA): Yarding: 17,622, (+7,672). Increased yarding and improved quality drove stronger prices across most lamb and mutton categories, led by heavy lambs and mutton, while lighter lambs eased slightly. Full report available here. 
    • Muchea sheep report (Nutrien) (5/5) View the latest report here
    Tasmania
    • No Report