Back to business, and the saleyards have seen stock flood the yards. The sharks were circling as the mutton momentum continued.
Indicators took the elevator up, and it’s evident that processors are ramping up the pressure at the rail per MLA saleyard reports. In Wagga, good quality lambs got bidders competing fiercely, and quality didn’t matter too much for those in the mutton market with exceptional demand across the board. Northern and southern processors also clashed in Ballarat, with the pick of the heavy mutton pens fetching over 700c/kg cwt.
The end result was a 63¢ improvement in the National Mutton Indicator (NMI), which finished the week at 625¢/kg cwt. Across the country, the mutton momentum has been present. NSW mutton is leading the pack at 671¢/kg cwt, where weight and consistency have been easier to access (given seasonal conditions). Victorian mutton markets are still one of the boats lifted by the rising tide at 611¢/kg cwt.
Restocker lambs lost 4¢ for the week but are sitting at 805¢/kg cwt. With the rampant competition from export and processor buyers and an autumn break yet to arrive, restocker buyers will bide their time. The Eastern States Trade Lamb Indicator (ESTLI) improved 20¢ to 852¢/kg cwt.
This week on Mecardo, Jamie-Lee Oldfield discussed the likelihood of stability ahead for lamb markets (read more here). Typically, the winter peak in pricing is Mid July and the average price isn’t too far off where we sit now, but some extra upside could appear if the lack of rainfall in the south equates to a significant decline in lambs hitting the right specifications before sucker season begins.
Next week
Not much rain forecast for the next fortnight might motivate more stock from down south to come forward, and those offloading stock with weight will likely be rewarded in the short term. How high can mutton markets go?
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
The saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
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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.
Mutton momentum continues
Indicators took the elevator up, and it’s evident that processors are ramping up the pressure at the rail per MLA saleyard reports. In Wagga, good quality lambs got bidders competing fiercely, and quality didn’t matter too much for those in the mutton market with exceptional demand across the board. Northern and southern processors also clashed in Ballarat, with the pick of the heavy mutton pens fetching over 700c/kg cwt.
The end result was a 63¢ improvement in the National Mutton Indicator (NMI), which finished the week at 625¢/kg cwt. Across the country, the mutton momentum has been present. NSW mutton is leading the pack at 671¢/kg cwt, where weight and consistency have been easier to access (given seasonal conditions). Victorian mutton markets are still one of the boats lifted by the rising tide at 611¢/kg cwt.
Restocker lambs lost 4¢ for the week but are sitting at 805¢/kg cwt. With the rampant competition from export and processor buyers and an autumn break yet to arrive, restocker buyers will bide their time. The Eastern States Trade Lamb Indicator (ESTLI) improved 20¢ to 852¢/kg cwt.
This week on Mecardo, Jamie-Lee Oldfield discussed the likelihood of stability ahead for lamb markets (read more here). Typically, the winter peak in pricing is Mid July and the average price isn’t too far off where we sit now, but some extra upside could appear if the lack of rainfall in the south equates to a significant decline in lambs hitting the right specifications before sucker season begins.
Next week
Not much rain forecast for the next fortnight might motivate more stock from down south to come forward, and those offloading stock with weight will likely be rewarded in the short term. How high can mutton markets go?
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Data sources: MLA, Mecardo
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Exports find support in September
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
Bounce back in market as lamb supply slows
Sheep and lamb supply fell away again this week prompting a significant boost to the market right across the board. National indicators rose up to
Lessons from weekly slaughter
The saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
Holding pattern ahead of the long weekend.
With the impending long weekend in NSW, the market was in a bit of a holding pattern this week, as most of the major indicators
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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.