A lacklustre week for lamb across the eastern half of the nation saw the Eastern States Trade Lamb Indicator (ESTLI) drift lower to test 827¢/kg cwt on Thursdays close, down from 835¢/kg cwt last week. Higher east coast yardings contributed to the softer prices.

It was NSW that drove the ESTLI lower this week, as the 26¢ fall for trade lambs in NSW saw prices back to pre-Christmas levels.  Restocker lambs in NSW lost 31¢ but still managed to retain the title of highest indicator in the land, at 993¢/kg cwt.  By contrast, light lambs in SA fell 58¢ to sit at a paltry 539¢/kg cwt. 

It wasn’t all bad news for growers in SA, with Restocker lamb prices rallying 61¢, or 7% to 982¢/kg cwt. Heavy lamb prices lost ground in all eastern states, with the indicator shedding 18 ¢ to 797¢/kg cwt. If you compare this week’s market to 12 months ago it doesn’t look that flash. All indicators in all states bar one is below the same time last year.

In Western Australia, the Restocker Lamb Indicator is currently at 847¢/kg cwt which is 21% higher than the same time last year. The stronger market in WA has seen some categories of lamb close in on eastern states prices, Light lamb and Mutton Indicators are just 5¢ below their counterparts in SA. Merino Lambs in WA are also at a 10¢ premium to Victoria, the last time this happened was August 2020.  

The rise in Mutton prices hit the brakes this week with the National Mutton Indicator falling 5¢ to 633¢/kg cwt.

Total east coast lamb yardings increased 8% for the week ending the 5th of March to see 192,524 lambs yarded. This was 7% higher than the five-year seasonal average, with all states contributing to the lift.  More sheep were also drawn to yards, with a 9% week-on-week increase. Sheep yardings are still trailing below average and last year’s levels.

The supply of lambs to slaughter also lifted last week, up 2% in the east. The 311,805 head processed was 13% below the five-year seasonal average. An extra 5k lambs were processed in Victoria to see the state’s total slaughter above 150K for the first time since the week before Australia day.

commodity conversations banner

The week ahead….

We usually see saleyard lamb supply drift lower from here as we head toward Winter. This should keep prices supported through any dips.

Have any questions or comments?

We love to hear from you!
Print This Post

Click on graph to expand

Click on graph to expand

Click on graph to expand

Data sources: MLA, NLRS Mecardo

Make decisions with confidence- ask about our board packs, bespoke forecasting and risk management services

Have any questions or comments?

We love to hear from you!
Warrnambool woolen mill
Wool

Industrial commodities

Wool is essentially a feedstock for an industrial process, with fashion tacked on the end of the supply chain. That is not how the marketers

Read More »
easter shaun the sheep
Wool

Solid market before Easter break

The wool market finished in positive territory in the lead-up to the traditional one-week recess over easter. Exporters competed strongly to fill orders for immediate

Read More »
Wool clip on table
Wool

Merino micron price curves

Premiums and discounts in the wool market are constantly on the move, responding to changes in supply and demand. The supply changes tend to be

Read More »
Wool

Au$ assists wool market

The wool market remains subdued although an easing in the Au$ this week assisted the market to post a modest rise. Despite the relatively stable

Read More »

Don’t have an account with us? Join free.

You can have full premium access to all of our content with a monthly or annual subscription. 

Alternatively, create a free account to access our Insights blog and two free premium article a month!

Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published

Commodity conversations podcast cover image, a illustration of a sheep standing on a cow's back with grain either side
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.

Photo of a farmer surrounded by Merino sheep in dusty yards
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. 

Image of harvested grain pouring into a chaser bin
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.