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 lambs continue to support pricing as the Eastern States Trade Lamb Indicator (ESTLI) improved 7¢ to 801¢/kg cwt.
National Trade lamb indicator rose 9¢ to 795¢/kg cwt with saleyard reports citing strong bids for store weights across Ballarat, Wagga and Hamilton. The National Mutton Indicator tracked sideways for eligible throughput (66K head) but improved 33¢ to 416¢/kg cwt.
Some rainfall reached Western Victoria and Central NSW sheep regions got a great drink. More rain down south is required but producer to producer trade at the saleyards did increase this week (51% increase Week on week in restocker indicator head count) with plenty of lambs heading back to the paddock.
Merino lambs have been steadily improving, with the National Merino Lamb Indicator rising 97¢ over the past month. The Merino lamb discount to the ESTLI sits at 125¢/kg cwt, a gap that typically narrows heading into winter. Recent gains in the wool market may encourage some producers to seek value in Merino lambs, especially as processors are expected to continue prioritizing heavier stock
This week MLA released the 2025 Sheep Industry projections and Angus brown took a deep dive into the numbers this week on Mecardo to figure out what it means for sheep producers and the supply chain (read more here). The Projections forecast a smaller flock (73.2 million in 2025, a 7% decline), and tighter sheep and lamb supply for slaughter heading into 2026, which, assuming average seasonal conditions, will typically lead to support for both sheep and lamb prices.
The week ahead….
Volume is key for processors right now, and rainfall in regions that have reliably turned off sheep may drive the chase for heavier weights
The latest ABARES outlook for livestock products has sheepmeat production dropping for the 2025–26 financial year, pushing prices higher and potentially boosting global demand even
Total sheep and lamb saleyard throughput fell this week, and so did most price indicators, as plenty of supply, proximity to holiday processor shutdowns, and
The October Sheep Producer Intentions Survey (SPIS) provides some very important information regarding the number of lambs on the ground, the type of lambs, and
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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.
Merino lambs catching up
National Trade lamb indicator rose 9¢ to 795¢/kg cwt with saleyard reports citing strong bids for store weights across Ballarat, Wagga and Hamilton. The National Mutton Indicator tracked sideways for eligible throughput (66K head) but improved 33¢ to 416¢/kg cwt.
Some rainfall reached Western Victoria and Central NSW sheep regions got a great drink. More rain down south is required but producer to producer trade at the saleyards did increase this week (51% increase Week on week in restocker indicator head count) with plenty of lambs heading back to the paddock.
Merino lambs have been steadily improving, with the National Merino Lamb Indicator rising 97¢ over the past month. The Merino lamb discount to the ESTLI sits at 125¢/kg cwt, a gap that typically narrows heading into winter. Recent gains in the wool market may encourage some producers to seek value in Merino lambs, especially as processors are expected to continue prioritizing heavier stock
This week MLA released the 2025 Sheep Industry projections and Angus brown took a deep dive into the numbers this week on Mecardo to figure out what it means for sheep producers and the supply chain (read more here). The Projections forecast a smaller flock (73.2 million in 2025, a 7% decline), and tighter sheep and lamb supply for slaughter heading into 2026, which, assuming average seasonal conditions, will typically lead to support for both sheep and lamb prices.
The week ahead….
Volume is key for processors right now, and rainfall in regions that have reliably turned off sheep may drive the chase for heavier weights
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Data sources: MLA, Mecardo and BOM
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Have any questions or comments?
Production down, but values still to rise
The latest ABARES outlook for livestock products has sheepmeat production dropping for the 2025–26 financial year, pushing prices higher and potentially boosting global demand even
Mutton market maintains momentum
Total sheep and lamb saleyard throughput fell this week, and so did most price indicators, as plenty of supply, proximity to holiday processor shutdowns, and
Survey marking numbers counter high slaughter rates
The October Sheep Producer Intentions Survey (SPIS) provides some very important information regarding the number of lambs on the ground, the type of lambs, and
Lighter lambs dominate supply as prices decline
Supply crept higher this week to 392k head for lamb and sheep through to the yards, and prices retracted as harvest in the south and
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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.