September market updates: Record prices for cows/lambs

Stay up to date with what's been happening in Australia’s red meat markets over the past month with news and analysis from our Market Information Team.

September’s record cow prices

Processor demand pushed cow prices to record highs.
Restocker heifer demand declined, especially in Queensland.
Feeder heifer prices remained stable despite minor easing.

Read more about the September prices and what is driving them.

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What does the latest NLRS saleyard survey reveal

Cattle transactions rose to 4.84 million head, up from 4.18 million in FY2023–24.
Sheep transactions increased to 16.39 million head, up from 14.09 million in FY2023–24.

Read more about the National Livestock Report Service (NLRS) Survey results.

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Record new season lamb prices

New season lamb prices surged to an average 1,227¢/kg carcase weight (cwt).
Competition is strong for anticipated new season lambs.
Processors are competing for limited lambs, purchasing up to 70% of supply.

Read more about what’s driving demand in the second half of 2025.

REMINDER: All lambs born after 1 January this year must be tagged prior to moving off their property of birth. For guidance on mandatory sheep and goat tagging, please refer to the ISC website.

What’s driving the shift in sheep and lamb yardings in 2025?

Sheep yardings in 2025 have seen a strong early year supply compared to previous years.
Spring lamb yardings are lower than previous years, indicating tighter supply during the high-demand period.
Sheep and lamb overall 2025 throughput is higher than a previous peak in 2020 with yardings concentrated mid-year.

Learn more about the numbers and understand the factors driving this year's results.

More markets information

For the latest market reports and pricing information, visit MLA’s Prices and Markets page.

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