The divide between old and new season lambs remains a prominent feature of the market. This week old season lambs presented in mixed quality which caused wide variation in price, while new season offerings are in good condition and attracting stronger bidding competition. Lamb and mutton price indicators all sprung higher over the week.
The Eastern States Trade Lamb Indicator (ESTLI) lifted 53¢ over the week, to 727¢/kg cwt. Despite the big jump in price, it didn’t make up for the significant fall of the week prior. In the West, trade lambs inched just 4¢ higher over the week to 538¢. While trade lambs in WA are fetching stronger prices than last month, we are still looking at prices more than 200¢ cheaper than this time last year.
Light lambs gained momentum over the week with the national indicator picking up 60¢ from last week to sit at 589¢/kg cwt. Similarly Merino lambs improved 61¢ to 593¢/kg cwt. Bigger yardings of heavy lambs also sold into stronger competition with the National Heavy Lamb Indicator lifting 39¢ to 746¢/kg cwt. The average heavy lamb price topped in Deniliquin yards at 803¢.
Much like the lamb market, price volatility has consumed mutton prices over the last month. This week the National Mutton Indicator (NMI)gained 61¢ to sit at 521¢/kg cwt. Both the ESTLI and NMI are sitting 22% below the same time last year.
Lamb slaughter remained very strong last week with 360,032 head processed. In the last four reported weeks we’ve seen 10% more lambs processed than the same time last year. Sheep slaughter rates are continuing to rise from the winter low. Last week the total number of sheep processed jumped 40% but remains well below the seasonal average.
While slaughter numbers for lambs are holding strong, saleyard throughput tapered off last week with wet conditions in many parts of the east and the softer market impacting confidence.
The week ahead….
On the surface saleyard prices look weak, however demand for new season lambs is proving strong. The low Aussie dollar is positive for demand from our export customers and will be a supporting factor for the finished lamb market through spring.
Standard livestock market analysis centres around supply, with shifts in demand usually gradual, and rarely to the downside. The odd ‘Black Swan’ event can see
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.
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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.
A spring loaded lamb market
The Eastern States Trade Lamb Indicator (ESTLI) lifted 53¢ over the week, to 727¢/kg cwt. Despite the big jump in price, it didn’t make up for the significant fall of the week prior. In the West, trade lambs inched just 4¢ higher over the week to 538¢. While trade lambs in WA are fetching stronger prices than last month, we are still looking at prices more than 200¢ cheaper than this time last year.
Light lambs gained momentum over the week with the national indicator picking up 60¢ from last week to sit at 589¢/kg cwt. Similarly Merino lambs improved 61¢ to 593¢/kg cwt. Bigger yardings of heavy lambs also sold into stronger competition with the National Heavy Lamb Indicator lifting 39¢ to 746¢/kg cwt. The average heavy lamb price topped in Deniliquin yards at 803¢.
Much like the lamb market, price volatility has consumed mutton prices over the last month. This week the National Mutton Indicator (NMI)gained 61¢ to sit at 521¢/kg cwt. Both the ESTLI and NMI are sitting 22% below the same time last year.
Lamb slaughter remained very strong last week with 360,032 head processed. In the last four reported weeks we’ve seen 10% more lambs processed than the same time last year. Sheep slaughter rates are continuing to rise from the winter low. Last week the total number of sheep processed jumped 40% but remains well below the seasonal average.
While slaughter numbers for lambs are holding strong, saleyard throughput tapered off last week with wet conditions in many parts of the east and the softer market impacting confidence.
The week ahead….
On the surface saleyard prices look weak, however demand for new season lambs is proving strong. The low Aussie dollar is positive for demand from our export customers and will be a supporting factor for the finished lamb market through spring.
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?
Monster March for lamb exports
As our domestic lamb market heads into two weeks with public holidays – and hopefully some more widespread autumn moisture not long after that –
Title rainfall forecast forces flock to market
The uptick in the sheep and lamb market last week was short lived, with most prices dropping. But it was more than likely rainfall –
Black Swans taking shine off mutton rise?
Standard livestock market analysis centres around supply, with shifts in demand usually gradual, and rarely to the downside. The odd ‘Black Swan’ event can see
Mutton leaps over the $5 mark
After a February to forget, April has started with a bang. Miracle mutton continues to march upward, and the seasonality of supply is now setting
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.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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.