Lamb and sheep markets experienced a generous lift this week as competition fired up at saleyards and quality generally seemed improved. Prices aren’t quite back where they were four weeks ago, but buyers are certainly seeing opportunity at these levels.
The Eastern States Trade Lamb Indicator jumped 56¢ or 8% on the week to 745¢/kg cwt. In the West, trade lambs also improved, up 33¢ to 514¢/kg cwt. The store lamb market in NSW continues to improve. Restocker lambs in NSW were stronger again this week, lifting 106¢ or 17% to 747¢/kg cwt. Merino lambs gained 112¢ to 676¢ in NSW, while the indicator in Victoria is sitting slightly lower at 661¢/kg cwt.
Mutton prices also improved with the lamb market movement. The National Mutton Indicator bumped up 58¢ to 552¢/kg cwt.
Lamb slaughter lifted 8% in the east last week with over 350k lambs processed. This was 13% above the five year seasonal average level. Weekly sheep slaughter is tracking at close to levels of this time last year but remains down on five-year average levels as the season and outlook encourage producers to hang onto anything of breeding value.
Throughput at saleyards was well down last week though, which initiated the turnaround in price. East coast lamb yardings were 23% lower than the week prior, and down 33% on the seasonal average. Sheep throughput also dropped 18% on the week.
The week ahead….
The next week looks likely to be a wet one for southern parts of the country based on the Bureau of Meterology forecast. Looking further out to Spring and a strong chance of above median rainfall is covering eastern Australia, with lower likelihood for Tasmania and Western Australia.
A wet spring in key southern lamb areas would be likely to keep back some of the supply of store lambs and add to the supply of finished lambs down the track.
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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Ewe the one that I want
The Eastern States Trade Lamb Indicator jumped 56¢ or 8% on the week to 745¢/kg cwt. In the West, trade lambs also improved, up 33¢ to 514¢/kg cwt. The store lamb market in NSW continues to improve. Restocker lambs in NSW were stronger again this week, lifting 106¢ or 17% to 747¢/kg cwt. Merino lambs gained 112¢ to 676¢ in NSW, while the indicator in Victoria is sitting slightly lower at 661¢/kg cwt.
Mutton prices also improved with the lamb market movement. The National Mutton Indicator bumped up 58¢ to 552¢/kg cwt.
Lamb slaughter lifted 8% in the east last week with over 350k lambs processed. This was 13% above the five year seasonal average level. Weekly sheep slaughter is tracking at close to levels of this time last year but remains down on five-year average levels as the season and outlook encourage producers to hang onto anything of breeding value.
Throughput at saleyards was well down last week though, which initiated the turnaround in price. East coast lamb yardings were 23% lower than the week prior, and down 33% on the seasonal average. Sheep throughput also dropped 18% on the week.
The week ahead….
The next week looks likely to be a wet one for southern parts of the country based on the Bureau of Meterology forecast. Looking further out to Spring and a strong chance of above median rainfall is covering eastern Australia, with lower likelihood for Tasmania and Western Australia.
A wet spring in key southern lamb areas would be likely to keep back some of the supply of store lambs and add to the supply of finished lambs down the track.
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Data sources: MLA, 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.