For the week ending the 9th of July, east coast lamb throughput increased 7% to see 177,228 lambs yarded. Both NSW and Victoria saw a lift at the yards while in WA 3,625 fewer lambs passed through compared to the week earlier. This was 27% higher than the five-year seasonal average. 72,399 sheep were yarded on the east coast which is 40% more than the five-year seasonal average.
Slaughter volumes were down last week. 7% fewer sheep and lambs were processed compared to the week prior. East coast lamb slaughter volumes were 13% higher than this time last year, but pretty close to the seasonal average. For sheep, last week’s volumes were 31% below average, but 35% higher than the same week in 2020.
The Eastern States Trade Lamb Indicator creeped 6ȼ higher over the week to settle at 885ȼ/kg cwt. A year on year comparison shows that this was 65ȼ higher than the same time last. In the West, the Western Australian Trade Lamb Indicator (WATLI) gained 22ȼ to 788ȼ/kg cwt. This was 36ȼ higher than the same time last year.
Restocker lambs gained an extra 24ȼ to 896ȼ/kg cwt in Victoria, while there was less interest in NSW, where restocker lambs lost 17ȼ to 879ȼ/kg cwt and are sitting 67ȼ lower than the same time last year. There have been very few times in the last year where restocker lambs have been more expensive in the Victoria than in NSW, and it’s usually short lived. In South Australia they are trading lower again at 861ȼ/kg cwt.
Heavy lamb prices continued to improve, gaining an additional 18ȼ to 873ȼ/kg cwt. Merino lambs received the wooden spoon this week, with the National Indicator losing 17ȼ to 775ȼ/kg cwt. Compared to the same time last year, Merino lambs are the poorest performers, sitting just 26ȼ higher. The mutton price rally has stalled, with the National Mutton Indicator falling 7ȼ this week.
Lamb prices creep higher
For the week ending the 9th of July, east coast lamb throughput increased 7% to see 177,228 lambs yarded. Both NSW and Victoria saw a lift at the yards while in WA 3,625 fewer lambs passed through compared to the week earlier. This was 27% higher than the five-year seasonal average. 72,399 sheep were yarded on the east coast which is 40% more than the five-year seasonal average.
Slaughter volumes were down last week. 7% fewer sheep and lambs were processed compared to the week prior. East coast lamb slaughter volumes were 13% higher than this time last year, but pretty close to the seasonal average. For sheep, last week’s volumes were 31% below average, but 35% higher than the same week in 2020.
The Eastern States Trade Lamb Indicator creeped 6ȼ higher over the week to settle at 885ȼ/kg cwt. A year on year comparison shows that this was 65ȼ higher than the same time last. In the West, the Western Australian Trade Lamb Indicator (WATLI) gained 22ȼ to 788ȼ/kg cwt. This was 36ȼ higher than the same time last year.
Restocker lambs gained an extra 24ȼ to 896ȼ/kg cwt in Victoria, while there was less interest in NSW, where restocker lambs lost 17ȼ to 879ȼ/kg cwt and are sitting 67ȼ lower than the same time last year. There have been very few times in the last year where restocker lambs have been more expensive in the Victoria than in NSW, and it’s usually short lived. In South Australia they are trading lower again at 861ȼ/kg cwt.
Heavy lamb prices continued to improve, gaining an additional 18ȼ to 873ȼ/kg cwt. Merino lambs received the wooden spoon this week, with the National Indicator losing 17ȼ to 775ȼ/kg cwt. Compared to the same time last year, Merino lambs are the poorest performers, sitting just 26ȼ higher. The mutton price rally has stalled, with the National Mutton Indicator falling 7ȼ this week.
The week ahead….
Have we hit the winter price peak? It does look like the rally is slowing, although supply has been relatively strong for winter in recent weeks so if we see numbers pull back significantly there may be a little more upside to be found.
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?
Lambs back to 600¢/kg mark
The positivity in the sheep and lamb market has continued to pick up this week, yet to be slowed by the upcoming festive season break
2024 a year of recovery for lamb?
It’s that time of year when we dust off the crystal ball and take a look at what markets are likely to do in 2024.
More rain lifts prices
Widespread rain on the East Coast helped prices continue their upward trajectory, supported by a decrease in throughput as growers’ feed supply concerns further eased.
Lamb turnoff takes precedence
Sheep slaughter for the September 2023 quarter rose year-on-year but dropped in comparison to the previous quarter, the first time this has occurred since 2016.
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.
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.