Saleyard supply slipped back this week which forced buyers to increase their bids and sent the lamb market higher. Presentation of good quality new season lambs has also attracted competition and helped spur on the improvement.
The
Eastern States Trade Lamb Indicator (ESTLI) lifted to 497¢/kg cwt, which was a
40¢ gain on the week prior. This is 21% or 85¢ higher than the recent low of
412¢ back in early September. In the West trade lambs lost some ground, falling
22¢ week on week to 360¢/kg cwt.
Processors
appetite for heavy lambs has also been on a rising trend. In Victoria heavy
lambs improved 37¢ on the week, while in NSW they were up 25¢. Heavy lambs in
both these states are now averaging over 500¢/kg cwt.
Restocker
lamb prices continue to improve. Particularly in Victoria where the season has
been kind to many and there is more feed around. The Vic restocker indicator
gained 29¢ on the week to 426¢. This is much improved from the low 284¢ reached
not that long ago. In NSW the southern and northern divide in seasonal
conditions is creating a mixed market for restocker lambs. In Wagga, which this
week saw the largest throughput of restocker lambs, they fetched 460¢ on
average. However, with restocker lambs priced much cheaper in other selling
centres, the NSW indicator this week sat at 378¢ after gaining 20¢ over the
week.
The
positive momentum has also built for light lambs which this week were up 55¢ to
411¢/kg cwt nationally. Early yardings reports are showing lamb throughput
nationally was around 24% lower this week compared to last. With about 164k
head yarded, this level Is below both the same time last year and average
levels.
Despite sheep
throughput being well back on the week prior, there was little joy for those
selling sheep with the National Mutton Indicator sliding back down another 10¢
to see it settle at 106¢/kg cwt.
Next week
The
trajectory of lamb prices over the last seven weeks has been mostly up, which
is hopefully a sign that the market had overcorrected. At the lows of price
that we have seen recently, southern restockers and traders may also be seeing
the opportunity to be found from cheap buy prices. Supply will only increase
from here which will test the improvement we’ve seen.
It has been a pretty devastating weekend in many Victorian sheep-growing areas, with fires raging through some prime sheep and cattle country. The consequences will
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.
New season lambs attract more energetic buying
The Eastern States Trade Lamb Indicator (ESTLI) lifted to 497¢/kg cwt, which was a 40¢ gain on the week prior. This is 21% or 85¢ higher than the recent low of 412¢ back in early September. In the West trade lambs lost some ground, falling 22¢ week on week to 360¢/kg cwt.
Processors appetite for heavy lambs has also been on a rising trend. In Victoria heavy lambs improved 37¢ on the week, while in NSW they were up 25¢. Heavy lambs in both these states are now averaging over 500¢/kg cwt.
Restocker lamb prices continue to improve. Particularly in Victoria where the season has been kind to many and there is more feed around. The Vic restocker indicator gained 29¢ on the week to 426¢. This is much improved from the low 284¢ reached not that long ago. In NSW the southern and northern divide in seasonal conditions is creating a mixed market for restocker lambs. In Wagga, which this week saw the largest throughput of restocker lambs, they fetched 460¢ on average. However, with restocker lambs priced much cheaper in other selling centres, the NSW indicator this week sat at 378¢ after gaining 20¢ over the week.
The positive momentum has also built for light lambs which this week were up 55¢ to 411¢/kg cwt nationally. Early yardings reports are showing lamb throughput nationally was around 24% lower this week compared to last. With about 164k head yarded, this level Is below both the same time last year and average levels.
Despite sheep throughput being well back on the week prior, there was little joy for those selling sheep with the National Mutton Indicator sliding back down another 10¢ to see it settle at 106¢/kg cwt.
Next week
The trajectory of lamb prices over the last seven weeks has been mostly up, which is hopefully a sign that the market had overcorrected. At the lows of price that we have seen recently, southern restockers and traders may also be seeing the opportunity to be found from cheap buy prices. Supply will only increase from here which will test the improvement we’ve seen.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Data sources: MLA Mecardo
Categories
Have any questions or comments?
Flock forecast to rise in 2026
After two record breaking years of sheep and lamb production, supply has already started to slightly contract so far in 2026. There are plenty of
Heat pushes numbers up and prices down
Sheep and lamb prices felt the pressure of increased supply this week, with all categories closing in the red. Extreme heat across the country pushed
Lamb a little weaker, mutton a little stronger
It has been a pretty devastating weekend in many Victorian sheep-growing areas, with fires raging through some prime sheep and cattle country. The consequences will
Record annual average prices for lamb
The final week of saleyard trading for 2025 saw lamb prices strengthen across the board as a result of the lowest yardings since October. The
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.