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.
Increase yardings dampen 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.
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?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, NLRS Mecardo
Categories
Have any questions or comments?
Market opens to flood of supply
The market returned from the winter recess with a large offering, and as has been the case, it struggled to digest the added bales offered.
New Zealand merino wool clip update
This article takes a look at the New Zealand merino clip from last season. While Australia accounts for three quarters of international merino production, the
Cotton prices down – what does it mean for wool?
Cotton prices are down 30-35%, depending on how prices are measured, on the high levels seen in May. How does this relate to broader merino
Late surge in Melbourne, a plus before the annual recess
We’re at the annual recess for the 2021/22 season and despite some promising signs on the final day of sales in Melbourne, most indicators were
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
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.
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.