Sheep Price Records Continue as Ewes Hit $650 a Head in Australia
Australian sheep prices set another national record, with first-cross ewes selling for $650 a head at Naracoorte in South Australia. Producers and agents say a historically low flock is keeping demand strong after years of drought-driven sell-offs.
Sheep price records continue to fall in Australia, with first-cross ewes selling for an unprecedented $650 a head at a sale in Naracoorte, South Australia, on Thursday.
The price beats the previous national record of $641, set at Corowa in New South Wales only last month. Industry figures expect values to stay high for some time because the national sheep flock is historically low.
A line of 1.5-year-old ewes
The record-setting ewes were 1.5 years old and belonged to the James family, who farm at Mundulla West, near Naracoorte. Trevor James said the result brought a sense of accomplishment, though he kept it in perspective.
"This is our 50th year selling first-cross ewes, and no-one ever thought we'd be at $650, or even in the 500s," he said.
He said the family needs the return. Spring 2023 prices fell away quickly, and feed and general costs have risen over the past few years. "Now we can catch up a little bit on the past few years," he said.
Why prices are rising
Sheep values have climbed this year on an excellent season in many areas, strong demand and a critical flock shortage. Drought in key livestock regions in recent years prompted a big sell-off, which deepened the long-term decline in flock numbers.
Only three years ago, livestock values fell so sharply that some sheep were almost worthless. James said that memory is still fresh.
"The shortage of sheep is now playing out and I would imagine it will take some while to rebuild numbers," he said. "We're hoping it's not a bubble, because we're hoping to get a little bit more out of it."
Records across the country
Almost all sheep prices have hit new highs in recent months. The national first-cross record has been broken numerous times.
Ewes at the Edenhope sale also set a Victorian record of $625 a head. A week earlier, a pen of first-cross lambs sold for a national record $595 at the Bendigo sale.
In the Merino industry, a ewe record of $515 a head was set at the Hay sheep sale in September.
Those records cover breeding animals. Demand for animals going to slaughter is also unprecedented, with lambs selling for up to $500 and sheep topping $400.
Agents point to persistence
Wayne Driscoll, a livestock specialist with stock agency AWN, said clients who stuck with sheep through tough years deserve the reward. "We're so pleased for the vendors who have stayed in it, because there was a lot of heartache a couple of years ago," he said.
Nigel Starick, livestock manager at Elders Bendigo, said he never expected to see prices this high. "It's as good as I've ever seen it in 25 years in this job — never in my life did I think I'd see those prices. It's just phenomenal," he said.
