A week of tighter lamb and sheep throughput put an end to the tanking prices. All categories managed to improve week on week, as competition returned for what was on offer.
The Eastern States Trade Lamb Indicator (ESTLI) decline came to a stop, bouncing 11¢ this week to end at the 700¢/kg cwt mark. The ESTLI is still holding a 153¢ discount to last year.
Restocker Lambs found some more interest at these new pricing levels, the National Indicator gained 27¢ to 673¢/kg/cwt. The price gap between restocker lamb prices in Victoria and NSW was at around 110¢ this week with NSW at a premium.
The National Mutton Indicator lifted 35¢ over the week to 360¢/kg cwt with mutton in NSW collecting the strongest prices.
Lamb slaughter was strong last week, with plenty flowing out of the south. 360,694 lambs were processed last week which was 6% more than the same week in 2021.
262,664 lambs were yarded in the east last week which was stronger than this time last year. The early reports suggest lamb throughput tightened up this week on the back of the cheaper market last week, which helped prices to find some strength.
Sheep slaughter continues to track around 10% below the same time last year.
The week ahead….
There are plenty more lambs still to come through the saleyards, and all signs are that pent up supply will mean numbers in the new year will be higher year on year. We know it’s a combination of weaker export demand, weaker restocker demand and spring flush supplies that drove prices off the cliff last week. On the export front, the announcement of easing of Covid restrictions in China is good news for demand, especially for mutton.
Lower throughput for lambs indicates the approach of winter. Whilst lamb indicators were lower, mutton markets found some favour this week, improving week on week
The mutton market has held fairly steady throughout the autumn, but it hasn’t experienced the same rebound as lamb in recent weeks. The national mutton
Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.
How to stop a falling market
The Eastern States Trade Lamb Indicator (ESTLI) decline came to a stop, bouncing 11¢ this week to end at the 700¢/kg cwt mark. The ESTLI is still holding a 153¢ discount to last year.
Restocker Lambs found some more interest at these new pricing levels, the National Indicator gained 27¢ to 673¢/kg/cwt. The price gap between restocker lamb prices in Victoria and NSW was at around 110¢ this week with NSW at a premium.
The National Mutton Indicator lifted 35¢ over the week to 360¢/kg cwt with mutton in NSW collecting the strongest prices.
Lamb slaughter was strong last week, with plenty flowing out of the south. 360,694 lambs were processed last week which was 6% more than the same week in 2021.
262,664 lambs were yarded in the east last week which was stronger than this time last year. The early reports suggest lamb throughput tightened up this week on the back of the cheaper market last week, which helped prices to find some strength.
Sheep slaughter continues to track around 10% below the same time last year.
The week ahead….
There are plenty more lambs still to come through the saleyards, and all signs are that pent up supply will mean numbers in the new year will be higher year on year. We know it’s a combination of weaker export demand, weaker restocker demand and spring flush supplies that drove prices off the cliff last week. On the export front, the announcement of easing of Covid restrictions in China is good news for demand, especially for mutton.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Data sources: MLA, Mecardo
Photo Credit: Megen Wrigglesworth
Categories
Have any questions or comments?
A party mix of results for lamb and sheep
There were mixed results for the indicators this selling week as the season slows down, and yardings overall dropped for the second week in a
Reassessing a ‘good’ price for mutton
Last week Mecardo looked at the mutton market, and how it related to the levels of last year. This week we take a deeper dive
Winter lamb cool down
Lower throughput for lambs indicates the approach of winter. Whilst lamb indicators were lower, mutton markets found some favour this week, improving week on week
Mutton market still out of step
The mutton market has held fairly steady throughout the autumn, but it hasn’t experienced the same rebound as lamb in recent weeks. The national mutton
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.