No discounts for lambs at saleyards this week for EOFY as the majority of indicators saw double-digit improvements.
The National Restocker lamb indicator was up 28¢ to 613¢/kg
cwt this week. This was largely driven
by restocker buyers in NSW, as the NSW indicator rose 57¢ for the week to
660¢/kg cwt. The average price paid by feeder buyers eclipsed 700¢/kg cwt after
rising 68¢ this week to 702¢/kg cwt.
The National Trade Lamb Indicator was up 52¢ to 762¢/kg cwt,
with a 6% increase in supply week-on-week, not denting buyer demand. Over the
month of June per MLA, the average price per head nationally for Trade lambs
sits at $164, which is $21 or 14% higher than at the start of the month.
The recovery of Heavy lamb prices this Winter has been a
welcome sight, and this week was no exception.
Nationally the Heavy lamb indicator rose 28¢ to 747¢/kg cwt with lower
numbers contributing, but notably strong demand for higher quality lambs also helped
drive numbers upward. With elevated
capacity and strong export demand, the rush to acquire finished stock over the
Winter has seen Heavy lambs nationally improve 40% on this time last year.
Based on NLRS reported figures at the time of writing, Sheep
yardings nationally were down 22% week on week to 78K head. Lower throughput
wasn’t enough to push the National Mutton indicator higher, which lost 4¢ to
336¢/kg cwt. However, in both SA and WA,
mutton indicators saw 50¢ increases week-on-week.
East Coast Slaughter is humming in June, in the last 3 weeks
more than 1.25 million lambs have been processed. This is 20% higher
year-on-year for the same three-week period.
Next week
It will be several months before we see an update to Sheep flock numbers from the ABS, but what we can ascertain from the weekly data available to us is that Lamb exports are strong, slaughter capacity is elevated and finished stock are the belle of the ball at the minute.
A difficult start rainfall-wise in southern sheep country elevates the risk of accessing finished supply in the next few months which should preserve much of the momentum of the last few months.
Australia’s total sheepmeat exports dropped 3% year-on-year for the month of May but remains 1% above 2024 for the year-to-date. Trump and all his tariff
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Heavy lambs the belle of the ball
The National Trade Lamb Indicator was up 52¢ to 762¢/kg cwt, with a 6% increase in supply week-on-week, not denting buyer demand. Over the month of June per MLA, the average price per head nationally for Trade lambs sits at $164, which is $21 or 14% higher than at the start of the month.
The recovery of Heavy lamb prices this Winter has been a welcome sight, and this week was no exception. Nationally the Heavy lamb indicator rose 28¢ to 747¢/kg cwt with lower numbers contributing, but notably strong demand for higher quality lambs also helped drive numbers upward. With elevated capacity and strong export demand, the rush to acquire finished stock over the Winter has seen Heavy lambs nationally improve 40% on this time last year.
Based on NLRS reported figures at the time of writing, Sheep yardings nationally were down 22% week on week to 78K head. Lower throughput wasn’t enough to push the National Mutton indicator higher, which lost 4¢ to 336¢/kg cwt. However, in both SA and WA, mutton indicators saw 50¢ increases week-on-week.
East Coast Slaughter is humming in June, in the last 3 weeks more than 1.25 million lambs have been processed. This is 20% higher year-on-year for the same three-week period.
Next week
It will be several months before we see an update to Sheep flock numbers from the ABS, but what we can ascertain from the weekly data available to us is that Lamb exports are strong, slaughter capacity is elevated and finished stock are the belle of the ball at the minute.
A difficult start rainfall-wise in southern sheep country elevates the risk of accessing finished supply in the next few months which should preserve much of the momentum of the last few months.
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Click on graph to expand
Click on graph to expand
Data sources: MLA, Mecardo
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Australia’s total sheepmeat exports dropped 3% year-on-year for the month of May but remains 1% above 2024 for the year-to-date. Trump and all his tariff
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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.
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.