A jump in new season lambs marks the start of spring, and buyers appear to be relieved at the weights and quality of the first big batch of lambs through the yards. With rainfall now underpinning some confidence in southern sheep regions, will momentum continue when numbers really begin to ramp up?
Supply wasn’t significantly higher, but the type of lambs that were arriving to the yards were just what the doctor and the market ordered. Young lambs through the yards jumped 62% week on week (Figure 1.) and buyers were keen to push bids higher after a patient few weeks waiting for the lambs to come.
Across the board indicators all saw strong gains (Indicator table 2), with restockers the best on ground this week increasing 132¢ to 1178¢/kg cwt. Merino lambs were also big winners this week, jumping back over $11/kg mark up 73¢/kg cwt to 1102¢/kg cwt (Figure 2). The Eastern States Trade Lamb Indicator (ESTLI) improved 27¢ to 1200¢/kg cwt.
The excitement was clear to read in MLA saleyard reports this week, as a higher proportion of available lambs arrived in good condition and met keen processors and restockers. There was a strong cohort of new season lambs in heavier weights at Wagga and additional buyers made the trip to Forbes to compete for grainfed trade lambs. Cowra had a limited number of lighter lambs and despite the offering lacking weight and finish seen elsewhere, market momentum continued through to Ballarat.
South Australian merino and restocker lamb indicators jumped over $1/kg each week on week as the recovery in conditions this season continues to unfold. In WA both restocker and trade lamb indicators eclipsed $10/kg after numbers fell back.
Spring lambs were the focus this week and but a drop in numbers did boost mutton values. Sheep yardings were down 16% WoW and the national Mutton Indicator (NMI) rose 20¢ to 877¢/kg cwt. At $246/head on average, turn off sheep are now worth $60 more per head than this same time last year.
Next week
For the 2nd consecutive week combined lamb and sheep slaughter was just shy of 480k head, historically there’s more room to grow. If the lambs at heavier weights are a tell of what’s to come then processors will be pretty competitive to get the most productive lambs available.
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
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
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Here they come
Supply wasn’t significantly higher, but the type of lambs that were arriving to the yards were just what the doctor and the market ordered. Young lambs through the yards jumped 62% week on week (Figure 1.) and buyers were keen to push bids higher after a patient few weeks waiting for the lambs to come.
Across the board indicators all saw strong gains (Indicator table 2), with restockers the best on ground this week increasing 132¢ to 1178¢/kg cwt. Merino lambs were also big winners this week, jumping back over $11/kg mark up 73¢/kg cwt to 1102¢/kg cwt (Figure 2). The Eastern States Trade Lamb Indicator (ESTLI) improved 27¢ to 1200¢/kg cwt.
The excitement was clear to read in MLA saleyard reports this week, as a higher proportion of available lambs arrived in good condition and met keen processors and restockers. There was a strong cohort of new season lambs in heavier weights at Wagga and additional buyers made the trip to Forbes to compete for grainfed trade lambs. Cowra had a limited number of lighter lambs and despite the offering lacking weight and finish seen elsewhere, market momentum continued through to Ballarat.
South Australian merino and restocker lamb indicators jumped over $1/kg each week on week as the recovery in conditions this season continues to unfold. In WA both restocker and trade lamb indicators eclipsed $10/kg after numbers fell back.
Spring lambs were the focus this week and but a drop in numbers did boost mutton values. Sheep yardings were down 16% WoW and the national Mutton Indicator (NMI) rose 20¢ to 877¢/kg cwt. At $246/head on average, turn off sheep are now worth $60 more per head than this same time last year.
Next week
For the 2nd consecutive week combined lamb and sheep slaughter was just shy of 480k head, historically there’s more room to grow. If the lambs at heavier weights are a tell of what’s to come then processors will be pretty competitive to get the most productive lambs available.
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Data sources: Meat and Livestock Australia, Mecardo
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Exports find support in September
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
Bounce back in market as lamb supply slows
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
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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.