New season lambs continue to creep to the yards, and buyers are beginning to ramp up competition.
Supply in the south is starting to ratchet higher as lamb throughput increases 11% week on week to 228k head through the yards. More important was the presence of weight and quality in Victoria this week, which pushed indicators higher as buyers hit the road to buy.
Restockers again continue to up the ante at the yards, and as discussed earlier this week on Mecardo by Jamie Lee Oldfield (read more here), for those that have the grass after months of turnoff, it looks like there is a rush to secure lambs to keep into the new year as trade and heavy lamb prices approach parity. The Eastern States Trade Lamb Indicator (ESTLI) improved 10c higher to 1155c/kg cwt, and Heavy lamb indicators improved 1c to 1159c/kg cwt.
Per MLA saleyard reports, Wagga saw strong exporter competition with the lack of numbers stretching the range of stock bid on wider. Both numbers and quality improved in Ballarat, pushing the market higher. Restockers across the state, and over the border, pushed restocker types higher and northern processor buyers boosted heavy lamb prices. Bendigo also had a larger week-on-week yarding and consistent demand from buyers as prices improved across the broad spectrum of lambs on display.
South Australian price indicators (except for heavy lambs) all saw double-digit improvement, ranging from 24-45c as new season lambs presented in excellent condition in Naracoorte. The West Australian Trade Lamb indicator improved 38c to 972c/kg cwt.
Next week
The quality of lambs available this week will no doubt reassure the processor end of the buying spectrum, and supply should continue in this manner in the next fortnight. Buyers have been flexible and willing to shift to a lower weight this week, which will likely be a strategy that continues, considering prices are close to parity.
The lamb market showed some resilience this week with the majority of indicators experiencing a significant rise, while sheep prices held fully firm to slightly
Lamb and sheep markets peaked early in winter and easing prices whilst ahead of schedule remain in line with typical seasonality. With more winter condition
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Prices improve again as supply begins to ramp up
Supply in the south is starting to ratchet higher as lamb throughput increases 11% week on week to 228k head through the yards. More important was the presence of weight and quality in Victoria this week, which pushed indicators higher as buyers hit the road to buy.
Restockers again continue to up the ante at the yards, and as discussed earlier this week on Mecardo by Jamie Lee Oldfield (read more here), for those that have the grass after months of turnoff, it looks like there is a rush to secure lambs to keep into the new year as trade and heavy lamb prices approach parity. The Eastern States Trade Lamb Indicator (ESTLI) improved 10c higher to 1155c/kg cwt, and Heavy lamb indicators improved 1c to 1159c/kg cwt.
Per MLA saleyard reports, Wagga saw strong exporter competition with the lack of numbers stretching the range of stock bid on wider. Both numbers and quality improved in Ballarat, pushing the market higher. Restockers across the state, and over the border, pushed restocker types higher and northern processor buyers boosted heavy lamb prices. Bendigo also had a larger week-on-week yarding and consistent demand from buyers as prices improved across the broad spectrum of lambs on display.
South Australian price indicators (except for heavy lambs) all saw double-digit improvement, ranging from 24-45c as new season lambs presented in excellent condition in Naracoorte. The West Australian Trade Lamb indicator improved 38c to 972c/kg cwt.
Next week
The quality of lambs available this week will no doubt reassure the processor end of the buying spectrum, and supply should continue in this manner in the next fortnight. Buyers have been flexible and willing to shift to a lower weight this week, which will likely be a strategy that continues, considering prices are close to parity.
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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.
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.
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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.