The winning combination of increasing supply and higher prices points to the lift in competitive spirit for lamb markets. This weeks’ cross-category price rises pushed the market Indicators back above month-ago levels, signalling that the plummeting prices we saw in August was an overcorrection.
East coast throughput for the week ending the 11th of September was slightly lower on the week prior. 10% less lambs were yarded, driven by large falls in NSW that weren’t offset by greater volumes in Victoria, South Australia and Tasmania. The total east coast lamb numbers were still 8% higher than the same week last year though.
Sheep throughput is still trailing well below average levels, despite a slight lift on the week. As noted by Jamie-Lee on Mecardo this week (view here), more sheep sales appear to be directed online with AuctionsPlus currently reporting record offerings.
It looks like things are on the up in Victoria, and that includes slaughter volumes. 18% more lambs and 47% more sheep were processed in the state last week compared to the week prior. The weekly East coast slaughter tallies ended 11% and 8% higher for lamb and sheep respectively.
The Eastern States Trade Lamb Indicator found an extra 30¢ this week, moving back into the 700¢/kg cwt territory. The eastern market was stronger for all types of lambs. Heavy Lambs gained 31¢ to end at 679¢/kg cwt. Restocker, Merino and Light lamb Indicators all rose around 20 to 25¢. The largest gains were made in Victoria.
Over in the West, results were more of a mixed bag. The spread between east and west trade lambs extended further as the Western Australian Trade Lamb Indicator dropped 20¢ to 579¢/kg cwt. WA Restocker lambs did claw back some ground, with an 86¢ lift to 606¢/kg cwt.
The week ahead….
The lamb and sheep market has been much more responsive to news than normal over the past few months. The easing of restrictions in regional Vic, reopening of restaurants and plans for an Al Fresco dining scene will hopefully add optimism for additional domestic demand for lamb.
Despite a decrease in yardings week on week, the tightening of supply was not enough to support prices. Middle East airspace closures impacted demand at
Sheep producers are making way for the winter crop and getting ahead of the upcoming public holiday sales disruption. Close to 250,000 lambs flooded to
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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.
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Positive price correction continues
East coast throughput for the week ending the 11th of September was slightly lower on the week prior. 10% less lambs were yarded, driven by large falls in NSW that weren’t offset by greater volumes in Victoria, South Australia and Tasmania. The total east coast lamb numbers were still 8% higher than the same week last year though.
Sheep throughput is still trailing well below average levels, despite a slight lift on the week. As noted by Jamie-Lee on Mecardo this week (view here), more sheep sales appear to be directed online with AuctionsPlus currently reporting record offerings.
It looks like things are on the up in Victoria, and that includes slaughter volumes. 18% more lambs and 47% more sheep were processed in the state last week compared to the week prior. The weekly East coast slaughter tallies ended 11% and 8% higher for lamb and sheep respectively.
The Eastern States Trade Lamb Indicator found an extra 30¢ this week, moving back into the 700¢/kg cwt territory. The eastern market was stronger for all types of lambs. Heavy Lambs gained 31¢ to end at 679¢/kg cwt. Restocker, Merino and Light lamb Indicators all rose around 20 to 25¢. The largest gains were made in Victoria.
Over in the West, results were more of a mixed bag. The spread between east and west trade lambs extended further as the Western Australian Trade Lamb Indicator dropped 20¢ to 579¢/kg cwt. WA Restocker lambs did claw back some ground, with an 86¢ lift to 606¢/kg cwt.
The week ahead….
The lamb and sheep market has been much more responsive to news than normal over the past few months. The easing of restrictions in regional Vic, reopening of restaurants and plans for an Al Fresco dining scene will hopefully add optimism for additional domestic demand for lamb.
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Data sources: MLA, Mecardo
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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.
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.
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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.