Sheep values have all fallen from the high of 2022, slipping back an average of 10.2%. Whilst values have fallen, they are still either the second or third highest that they have ever been depending on which class of sheep you are looking at.
The price of sheep meat weakened from the record highs of 2021-22 season and optimism from industry leaders for the 2023 season was largely unfounded in the first half of the year, although prices have seen a recovery and global supply remains limited which are keeping prices above historical averages.
Wool markets remain uncertain with forecast prices closely matching this season. Increased shearing costs continue to make wool uneconomic except at the fine end of the market.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.