Record bull prices and sheep supply shortages tighten livestock markets in New Zealand and Australia

High beef prices and strong demand drove record bull sales in New Zealand, with a Taimate Angus V15 bull fetching NZ$168,000, setting a new national average price of NZ$23,750 per animal. Other breeds also saw notable prices, such as Charolais bulls reaching an average of NZ$18,871 and top lots selling for up to NZ$55,000.

In Australia, limited sheep numbers are shaping lamb and mutton markets. The National Trade Lamb Indicator closed at 12.19 NZ$/kg cwt and the National Mutton Indicator at 8.67 NZ$/kg cwt, reflecting strong procurement pressure as buyers compete for scarce supply. Prices remain higher in the eastern states, while Western Australia lags behind, with lamb and mutton trading well below national averages. Supply constraints, rather than price, are expected to dominate the market through 2026.