Producers appeared keen to get lambs to the saleyard before winter arrived, with a spike in throughput in NSW last week. Most categories of lamb in the east moved lower over the week, however, mutton managed to move higher, yet again.
Lambs were out in force at NSW saleyards. Throughput for the week ending the 28th of May in NSW jumped 57% week on week, with the number of lambs yarded 26% higher than the five-year seasonal average. This was the driver of a 33% lift in east coast lamb yardings, with 215,755 head yarded. The number of sheep yarded in the east was slightly lower than the week prior (-0.7%), as increased numbers in NSW offset a drop in South Australia.
No slaughter data is available for last week due to technical issues, so we will have to catch up on these figures once they are released.
The Eastern States Trade Lamb Indicator was 27ȼ lower on the week, sitting at 817ȼ/kg cwt. In NSW, Restocker lambs were worth 911ȼ/kg cwt, up 74ȼ on the week. All other categories moved lower in NSW. Merino lambs failed to gather much attention, dropping 52ȼ.
In Victoria, the market was weaker across the board, with disruptions to processing with JBS at a halt, and the state-wide lockdown. Trade lambs in Victoria lost 44ȼ on the week, while heavy lambs dropped 25ȼ and restockers 135ȼ.
In the West, the market was stronger again. The Western Australian Trade Lamb Indicator was 34ȼ higher in the week to Wednesday, ending at 753ȼ/kg cwt. All categories saw significant gains, with light lambs and restocker lambs most in favour, lifting 73ȼ and 70ȼ respectively.
For Mutton, demand was generally stronger, with the National Mutton Indicator lifting 6ȼ week on week to 662ȼ/kg cwt. This is just higher year on year, but when converted to USD terms the NMI is at 512ȼ/kg cwt which is up 12% on the same time last year. Earlier in the week, Jamie-Lee took a look at the mutton job and whether it might be a good time to turn-off any underperformers (view here)
The week ahead….
The Bureau of Meteorology have released a very wet-looking winter rainfall forecast. For most of the country, excluding parts of WA, the forecast is for at least a 50% or greater chance of exceeding median rainfall. This will add to the confidence of producers, and if delivered, another big spring lamb season will be in store.
The latest release of Meat and Livestock Australia’s Industry Projections has a pertinent section on the structural shift in the national flock. Survey results continue
After a relatively stable few weeks, an increase in yardings and a softening of competition in the buying field applied downward pressure on prices this
All figures are looking up in the latest Meat and Livestock Australia sheep industry projections, released last week – except for prices that is. However,
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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.
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A turn before winter
Lambs were out in force at NSW saleyards. Throughput for the week ending the 28th of May in NSW jumped 57% week on week, with the number of lambs yarded 26% higher than the five-year seasonal average. This was the driver of a 33% lift in east coast lamb yardings, with 215,755 head yarded. The number of sheep yarded in the east was slightly lower than the week prior (-0.7%), as increased numbers in NSW offset a drop in South Australia.
No slaughter data is available for last week due to technical issues, so we will have to catch up on these figures once they are released.
The Eastern States Trade Lamb Indicator was 27ȼ lower on the week, sitting at 817ȼ/kg cwt. In NSW, Restocker lambs were worth 911ȼ/kg cwt, up 74ȼ on the week. All other categories moved lower in NSW. Merino lambs failed to gather much attention, dropping 52ȼ.
In Victoria, the market was weaker across the board, with disruptions to processing with JBS at a halt, and the state-wide lockdown. Trade lambs in Victoria lost 44ȼ on the week, while heavy lambs dropped 25ȼ and restockers 135ȼ.
In the West, the market was stronger again. The Western Australian Trade Lamb Indicator was 34ȼ higher in the week to Wednesday, ending at 753ȼ/kg cwt. All categories saw significant gains, with light lambs and restocker lambs most in favour, lifting 73ȼ and 70ȼ respectively.
For Mutton, demand was generally stronger, with the National Mutton Indicator lifting 6ȼ week on week to 662ȼ/kg cwt. This is just higher year on year, but when converted to USD terms the NMI is at 512ȼ/kg cwt which is up 12% on the same time last year. Earlier in the week, Jamie-Lee took a look at the mutton job and whether it might be a good time to turn-off any underperformers (view here)
The week ahead….
The Bureau of Meteorology have released a very wet-looking winter rainfall forecast. For most of the country, excluding parts of WA, the forecast is for at least a 50% or greater chance of exceeding median rainfall. This will add to the confidence of producers, and if delivered, another big spring lamb season will be in store.
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Data sources: MLA, NLRS, Mecardo
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Merino component of flock under pressure
The latest release of Meat and Livestock Australia’s Industry Projections has a pertinent section on the structural shift in the national flock. Survey results continue
Spring supply mounting in NSW
After a relatively stable few weeks, an increase in yardings and a softening of competition in the buying field applied downward pressure on prices this
Sheep and slaughter are still on the rise
All figures are looking up in the latest Meat and Livestock Australia sheep industry projections, released last week – except for prices that is. However,
Lamb market standing on solid ground
Saleyard lamb and sheep throughput continue to track down slightly, with wild weather no doubt stalling some numbers in the south this week. As a
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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.
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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.