Eastern lamb markets continued to ease this week, with even restockers pulling back. However, It was a different story in the West where fairly widespread rain provided a boost of confidence and prices for all categories of lamb and sheep strengthened.
East Coast lamb yardings responded to the slightly weaker prices of recent times by falling 5%. Throughput in Victoria and WA held steady but all other states saw a week-on-week decline.
Lamb slaughter numbers were slightly lower, dropping 2% to see 305,154 head processed for the week ending the 26th of January.
The Eastern States Trade Lamb Indicator lost 13¢ on the week to end at 835¢/kg cwt. In WA, trade lambs picked up an extra 14¢ to sit at 710¢/kg cwt. The trade lamb discount in WA to the ESTLI is currently at 17%, which is an improvement on the 28% discount at this same time last year.
Light, Merino and Restocker lambs in WA came out on top this week, each gaining 65 to 90¢. In most eastern states these categories lost around 25 to 30¢ on the week.
Mutton markets showed strength this week, the National Mutton Indicator gained 7¢, to 638¢, but it was South Australia where demand really took off, with mutton prices gaining 42¢ to 630¢/kg cwt. The National Mutton Indicator is currently 45¢ lower than this time last year and it’s not due to higher supply.
The week ahead….
The two week rainfall forecast by the BOM is looking very wet indeed. Nearly all of the country is looking at a 50% or greater chance of receiving above median rainfall. This (if it comes to fruition), along with the weaker eastern market, will likely put a halt on any substantial increase in supply.
In mid-2022 Mecardo looked at the international supply of sheep meat (albeit from a limited number of countries) showing how lower supply had positively correlated
A short week, and closed saleyards on Thursday has culminated in some relief on the supply front as combined lamb and sheep yardings nationally dropped
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.
Red to the east, green to the west
East Coast lamb yardings responded to the slightly weaker prices of recent times by falling 5%. Throughput in Victoria and WA held steady but all other states saw a week-on-week decline.
Lamb slaughter numbers were slightly lower, dropping 2% to see 305,154 head processed for the week ending the 26th of January.
The Eastern States Trade Lamb Indicator lost 13¢ on the week to end at 835¢/kg cwt. In WA, trade lambs picked up an extra 14¢ to sit at 710¢/kg cwt. The trade lamb discount in WA to the ESTLI is currently at 17%, which is an improvement on the 28% discount at this same time last year.
Light, Merino and Restocker lambs in WA came out on top this week, each gaining 65 to 90¢. In most eastern states these categories lost around 25 to 30¢ on the week.
Mutton markets showed strength this week, the National Mutton Indicator gained 7¢, to 638¢, but it was South Australia where demand really took off, with mutton prices gaining 42¢ to 630¢/kg cwt. The National Mutton Indicator is currently 45¢ lower than this time last year and it’s not due to higher supply.
The week ahead….
The two week rainfall forecast by the BOM is looking very wet indeed. Nearly all of the country is looking at a 50% or greater chance of receiving above median rainfall. This (if it comes to fruition), along with the weaker eastern market, will likely put a halt on any substantial increase in supply.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, NLRS, Mecardo
Categories
Have any questions or comments?
Buyers are back baby
The lamb and sheep markets were back in full swing following last week’s shorter selling week. Most notable were the buyers, pushing prices up across
How do the size of yardings move prices in Wagga
Talk to any farmer or local agent, and they will tell you that local supply has an impact on local prices. Many a grower will
International sheep meat supply and lamb prices
In mid-2022 Mecardo looked at the international supply of sheep meat (albeit from a limited number of countries) showing how lower supply had positively correlated
44% drop in supply springs market into action
A short week, and closed saleyards on Thursday has culminated in some relief on the supply front as combined lamb and sheep yardings nationally dropped
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.