Weekly cattle and sheep market wrap

Cattle prices softened again this week across a larger yarding as sheep and lamb indicators also eased.  

Diesel prices have also emerged as a contributing factor to market sentiment and influence on current livestock prices. The Australian Institute of Petroleum quoted the national average weekly price at 273.6¢/litre in the week ending 20 September, up 6% from the previous week ending 13 September. 

National lamb slaughter declined as a major NSW processor entered scheduled maintenance and reduced processing capacity.  

Cattle market  

National cattle yarding numbers lifted 1% to 73,146 head over the week.  

Cattle indicators recorded sharp declines across the week led by the restocker market.  

The Restocker Yearling Heifer Indicator fell 12% while the Restocker Yearling Steer Indicator declined 10%. The Heavy Steer Indicator was the only indicator to lift, rising 1%. 

The National Young Cattle Indicator (NYCI) fell 7% over the week to 476¢/kg liveweight (lwt).  

Since May 2026, the indicator has experienced significant volatility, reflecting changing levels of producer confidence in the restocker market.   

Seasonal conditions, particularly across southern Queensland and northern NSW, have been a key driver of this volatility to influence both buyer activity and demand for younger cattle.  

The Feeder Steer Indicator eased 5% over the week to 495¢/kg lwt across a total yarding of 10,406 head. Despite the decline, the indicator remains 5% above year-ago levels. 

Wagga Wagga formed 19% of the national feeder steer yarding this week and averaged 511¢/kg lwt. 

Sheep market  

National lamb yardings fell 5% over the week to 168,568 head, while sheep numbers lifted 5% to 68,865 head.  

All indicators declined over the week, ranging from a 1% fall in the Heavy Lamb Indicator to a 4% drop in the Mutton Indicator. 

A number of market reports including Wagga Wagga, Ballarat and Hamilton noted the absence of regular buyers this week, which contributed to softer market competition.  

The Mutton Indicator dropped 4% this week to make 807¢/kg carcase weight (cwt) across an offering of 42,901 head. Ballarat recorded the highest average price at 878¢/kg cwt from a yarding of 3,221 head. 

The Restocker Lamb Indicator fell 3% to 1,146¢/kg cwt across an offering of 23,998 head.  

SA contributed 18% of the national yarding. The SA Livestock Exchange report noted an excellent quality of the new season lambs on offer. 

Slaughter  

Week ending 25 September 2026 

Cattle 

National cattle slaughter numbers decreased 0.4% week-on-week (WoW) to 143,482 head. Victoria drove the decline, falling 4.1% over the week, while WA recorded the largest lift at 5.6%. 

State-by-state cattle slaughter (YoY): 

• NSW: down 5% to 32,362 head 

• Queensland: down 5% to 77,074 head 

• SA: up 1% to 3,856 head 

• Tasmania: up 2% to 3,861 head 

• Victoria: down 9% to 22,337 head 

• WA: up 6% to 3,992 head. 

Sheep 

National lamb slaughter fell 6.3% WoW to 339,627 head, while mutton slaughter increased 11.1% WoW to 112,061 head.  

The decline in lamb processing was largely driven by a major NSW processor entering a scheduled maintenance, which period contributed to a 36% drop in the state’s weekly slaughter.   

State-by-state lamb slaughter (YoY): 

• NSW: down 34% to 68,061 head 

• Queensland: down 22% to 1,047 head 

• SA: down 8% to 38,208 head 

• Tasmania: up 36% to 7,079 head 

• Victoria: down 6% to 176,511 head 

• WA: up 12% to 48,721 head. 

Attribute content to: Alex Fry, MLA Market Information Analyst 

Information is correct at time of publication on 25 September 2026