Just 37,998 sheep were processed in the week ending the 19th of June. While it was 53% under the five year average for this time of year, we know it’s far from an average season. What does make the better comparison is the 2011 season, where the same week saw just a 3% difference in sheep slaughter levels (Figure 1).
There was enough room for lambs to be processed though. Lamb slaughter held steady at recent levels with most yards reporting a slight lift in lamb supply, particularly heavier lambs.
Victoria, Tasmania and parts of Western Australia all received a good drenching in the week passed, and all saw mutton values dive. The result was a fall of nearly 50¢ for the National Mutton Indicator to 626¢/kg cwt (Figure 2).
There were mixed reports for lamb categories between yards this week, but most moved slightly lower. The Eastern States Trade Lamb Indicator (ESLTI) lost 7¢ on the last week of the 2019/20 sale season to finish at 870¢/kg cwt. This was just 3% below last years level.
Heavy lambs had a noteable fall of 12¢ to 827¢/kg cwt on the east coast, tested by another week of uncertainty around food service and export demand. A 31¢ decline was recorded for Restocker lambs. Merino lambs were the only category to see a gain on the week, up 14 cents to 804¢/kg cwt.
Mutton EOFY sale
Next week
Earlier in the week we looked at how lamb and sheep supply is likely to play as we move closer to spring, and how prices might react. Lamb supplies tend to stay relatively steady at this time of year but rebuilding efforts will keep sheep in paddocks and provide some support to both mutton and lamb prices.
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
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.