Mutton on the move as spring brings mud

The National Mutton Indicator rose 30¢/kg to 745¢/kg, now well over double the price it was the same time last year, 430¢/kg higher in fact. Forbes led the charge, having both the highest number of NMI eligible stock and averaging more than 100¢/kg above the national price at 886¢/kg. NSW yards increased more than 40¢/kg to 787¢/kg for the week, with about two-thirds of the throughput, while across the border in Victoria, it was a very different story. Mutton prices have actually lost ground, down 6¢/kg for the week to 681¢/kg, which is nearly 58¢/kg lower than four weeks ago.

Numbers through the online sheep indicator surged this week to more than 15,000 head, a good indication that sheep are starting to move now that spring has arrived and brought with it moisture in at least some of the sheep-producing areas. Again, NSW was by far the biggest contributor with about 10,000 head and averaged $243/head, compared to the national $223/head average. A vast majority of the sheep throughput were Merino ewes, and they rose $5/head to $226. First-cross ewes averaged $327/head.

Total sheep and lamb yardings rose by about 8000 head this week, with increases in both categories. Dubbo, NSW, was the largest contributor to the total increase, with its yarding growing 11,000 head week-on-week. Further south, in Griffith and Wagga Wagga, NSW, yardings fell by 14,000 and 12,000 respectively, being the only other big movements in throughput. The week prior to slaughter was lower week-on-week for sheep, and well below year-ago levels as well, a trend we’ve only seen for the first time this year over the past month. Lambs have been following the same line, rising last week marginally, but remaining lower than year-ago figures since August 1.

Looking at lambs and restockers stole the show. Jumping more than 50¢/kg for the week, the National Restocker Lamb Indicator landed at 1146¢/kg, driven by averages over 1200¢/kg at NSW yards Wagga Wagga, Cowra, and Carcoar. Prices in the west didn’t finish as high, but they experienced even more of an increase, up more than 100¢/kg week-on-week. Muchea, Western Australia, had the second-largest throughput of restocker lambs and averaged 1080¢/kg.

Heavy lambs held steady, with reports of fewer and fewer being available and demand for old lambs falling away. Trade lambs also felt the pinch, losing about 30¢/kg nationally, likely on the back of the quality available. Nationally, they averaged 1159¢/kg, while in Forbes, which had a quarter of the indicator throughput and where more than 10,000 well-finished new lambs were yarded according to the National Livestock Reporting Service, the average price was 1233¢/kg.