The wet, wintry conditions across most of the east coast is starting to partially impact the quality of sheep and lambs as they battle through the tougher conditions. Demand is still strong, especially for higher quality stock, but overall the market was generally softer this week.
Last week, east coast lamb slaughter dropped by 1% on the week prior with 358,384 head processed, while sheep slaughter fell by 20% to 71,987 head. (Figure 1) We can expect slaughter levels to remain on par or fall lower for the next two months, in line with the 5 year historical averages.
There was a big lift in east coast saleyard lamb throughput last week however, up 43% on the week prior, to 205,220 lambs yarded. This is 30% higher than the same week last year and slightly above the 5 year average. Sheep yardings increased by even more last week, up 61% on the week prior, to 63,098 head. (Figure 1 & 2)
As reported by MLA, the quality of lambs was mixed this week which was reflected in the overall price indicators. The Eastern States Trade Lamb Indicator shed 16¢ on last week, to finish this week at 775¢/kg cwt. All other indicators fell in the east on last week bar mutton which stayed put and restocker lambs, which jumped up 32¢.
Looking at the national indicators there was red all round, with all indicators dropping between 5 to 50¢ on last week. Light lambs fell the most, although it wasn’t consistent across all states, in NSW they fell by 77¢ and 67¢ in Tasmania, while in Victoria & SA they lifted 21 & 31¢ respectively. Restocker lambs well sought after, especially in Victoria, with the indicator lifting 57¢ on last week to 808¢/kg cwt there.
The national mutton indicator fell by 22¢ to 626¢/kg, dragged down by SA & Victoria, falling 60 & 25¢ respectively while in NSW it lifted by 23¢. The national mutton indicator is currently sitting 27¢ down on the same week last year.
The week ahead….
With export demand still stronger than ever, we expect this will keep a solid floor in the market, even more reason for producers to take extra care of their stock as we can expect prices to remain historically high over the short term.
Standard livestock market analysis centres around supply, with shifts in demand usually gradual, and rarely to the downside. The odd ‘Black Swan’ event can see
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.
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.
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.
Market softer overall as wintry conditions take hold
Last week, east coast lamb slaughter dropped by 1% on the week prior with 358,384 head processed, while sheep slaughter fell by 20% to 71,987 head. (Figure 1) We can expect slaughter levels to remain on par or fall lower for the next two months, in line with the 5 year historical averages.
There was a big lift in east coast saleyard lamb throughput last week however, up 43% on the week prior, to 205,220 lambs yarded. This is 30% higher than the same week last year and slightly above the 5 year average. Sheep yardings increased by even more last week, up 61% on the week prior, to 63,098 head. (Figure 1 & 2)
As reported by MLA, the quality of lambs was mixed this week which was reflected in the overall price indicators. The Eastern States Trade Lamb Indicator shed 16¢ on last week, to finish this week at 775¢/kg cwt. All other indicators fell in the east on last week bar mutton which stayed put and restocker lambs, which jumped up 32¢.
Looking at the national indicators there was red all round, with all indicators dropping between 5 to 50¢ on last week. Light lambs fell the most, although it wasn’t consistent across all states, in NSW they fell by 77¢ and 67¢ in Tasmania, while in Victoria & SA they lifted 21 & 31¢ respectively. Restocker lambs well sought after, especially in Victoria, with the indicator lifting 57¢ on last week to 808¢/kg cwt there.
The national mutton indicator fell by 22¢ to 626¢/kg, dragged down by SA & Victoria, falling 60 & 25¢ respectively while in NSW it lifted by 23¢. The national mutton indicator is currently sitting 27¢ down on the same week last year.
The week ahead….
With export demand still stronger than ever, we expect this will keep a solid floor in the market, even more reason for producers to take extra care of their stock as we can expect prices to remain historically high over the short term.
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?
Monster March for lamb exports
As our domestic lamb market heads into two weeks with public holidays – and hopefully some more widespread autumn moisture not long after that –
Title rainfall forecast forces flock to market
The uptick in the sheep and lamb market last week was short lived, with most prices dropping. But it was more than likely rainfall –
Black Swans taking shine off mutton rise?
Standard livestock market analysis centres around supply, with shifts in demand usually gradual, and rarely to the downside. The odd ‘Black Swan’ event can see
Mutton leaps over the $5 mark
After a February to forget, April has started with a bang. Miracle mutton continues to march upward, and the seasonality of supply is now setting
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.