Mutton made headlines at Wagga Wagga, NSW, when a pen of 43kg crossbred ewes sold for a per-head record price of $366.20, equating to 851¢/kg. The National Livestock Reporting Service quoted heavy Merino ewes as averaging 887¢/kg as a northern processor pushed other regular buyers out of the running. Indicator-eligible mutton numbers dropped by more than 16,000 head, and the national indicator rose nearly 50¢/kg to 745¢/kg. Wagga, Forbes, and Dubbo, NSW, made up 35% of the throughput, and in NSW mutton averaged 780¢/kg.
The NMI is now about 140% above year-ago levels, and 60% above the five-year average. Ewes from NSW also dominated the online sheep indicator this week, making up all but 4.5% of the throughput. Sitting at 245¢/kg, the online price rose about 5¢/kg for the week, bringing it about 130¢/kg higher than it was a month ago.
Light lambs and Merino lambs were the other categories to experience significant increases this week, as again saleyard price records were broken, this time at Forbes, NSW, when a pen of 32 Merino lambs fetched $420 a head. The Merino Lamb Indicator rose more than 55¢/kg for the week to close at 1022¢/kg, the first time it has had a weekend average price above $10/kg. Light lambs averaged 992¢/kg.
Trade lamb numbers fell significantly in the saleyards, with throughput once again dominated by NSW. Nationally, the Trade Lamb Indicator fell by about 5¢/kg to sit at 1178¢/kg, while in the eastern states it is 1190¢/kg. Forbes and Wagga Wagga both offered 20% of the NTLI-eligible stock, and their prices sat at 1199¢/kg and 1225¢/kg respectively. The NLRS reported that despite numbers dropping at Forbes, trade weights were well supplied and of good quality, with prices lifting $6–$8/head, and new season lambs averaging 1180¢/kg
Market makes moves on mutton and merinos.
Next week
Thomas Foods International shut its Lobethal, South Australia, sheep and lamb processing plant last Friday, citing the state’s drought-depleted flock numbers as making the operation unsustainable, and predicting the shortage to remain a problem until at least 2027. More widespread rainfall in the past fortnight will further bolster restocker demand moving forward, but as we always say, it doesn’t rain grass, which means there will likely still be less slaughter-ready supply than predicted at the start of the year as we move into spring.
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Data sources: Mecardo; Meat and Livestock Australia
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