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 saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
Total sheep and lamb yardings fell slightly this week, but it didn’t help prices, with all major indicators ending lower. Restocker lambs and mutton are
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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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Sheep and lamb supply fell away again this week prompting a significant boost to the market right across the board. National indicators rose up to
Lessons from weekly slaughter
The saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
Holding pattern ahead of the long weekend.
With the impending long weekend in NSW, the market was in a bit of a holding pattern this week, as most of the major indicators
Ewe records fall but so does NMI
Total sheep and lamb yardings fell slightly this week, but it didn’t help prices, with all major indicators ending lower. Restocker lambs and mutton are
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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.
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.
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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.