Both lamb and sheep yardings were higher last week but it was sheep numbers that took a bounding leap higher. 40,314 sheep passed through yards on the east coast, a 126% lift on throughput the week prior. This was powered by around an extra 10,000 head yarded each in New South Wales and Victoria compared to the extremely low levels of the week earlier.
Lamb yardings were back up to “more normal” levels, lifting 31% on the week prior. Producers in Victoria remained hesitant with minimal change to throughput, however, growing numbers of early new season lambs in NSW appearing in yards drove the increase.
NSW also picked up the slack for lack of processing in Victoria last week. A 25% drop in lamb slaughter in Victoria (Figure 1) was countered by a 27% increase in NSW (Figure 2), which was also higher than the seasonal five-year average for the first time since April (+17%).
Prices for all categories of lamb saw improvements this week. The Eastern States Trade Lamb Indicator rose 38¢ to 789¢/kg cwt which wasn’t enough to regain last weeks 66¢ loss. Heavy and Merino lambs also saw gains of around 30¢ on the week. Another good splash of rain on the east coast provided Restockers with a boost of confidence. Resotcker lambs were up 94¢ in NSW, and 54 in VIC.
Over in the West, Merino lambs were the only type to make improvements on the week. Heavy lambs were the hardest hit, losing 64¢, while the Western Australian Trade Lamb Indicator dropped 43¢ to 721¢/kg cwt.
The National Mutton Indicator edged lower again this week, falling 9¢ over the week to 574¢/kg cwt on Thursday.
Lamb getting back to business
Next week
With some Victorian processors set to reopen next week, we should see some more fuel to what has been lacklustre competition in Victoria. These disruptions have been short-lived with processors and industry responding with speed to these health, safety and supply chain challenges which provides some confidence. While we may see supply rebound in Victoria, there is another wet forecast for most of the southern half of Australia in the week.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, Mecardo
Categories
Have any questions or comments?
Lamb of the free, home of the trade
Trump and his reign of tariffs are dominating discussions at the moment, both in the party room and at the dinner table. In case you’ve
Merino lambs catching up
Lambs continue to reclaim the saleyards, with mutton prices remain the beneficiary. With the Easter and the Anzac Day breaks approaching, the top end trade
Projecting tighter ovine supply
The March Meat and Livestock Australia (MLA) Australian Sheep Industry Projections were released on Monday. The projections provide a view on where the sheep supply
Lamb market kicks off autumn with mixed signals
First week of autumn saw slight fluctuations in the value of the majority of indicators, yardings retreated, as did some of the buyer’s demand according
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
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.