Sheep and lamb market not slowing

Restocker lambs were still the highlight, having operated at levels above all other national indicators for most of the year, they have further increased their premium. Rising another 30¢/kg for the week, restockers are now trading at 1209¢/kg, more than 500¢/kg higher than the same time last year, and 81% above the five-year average. And it seems to be all demand driven, with national restocker throughput at the highest of all lamb indicators, increasing about 7800 head on the previous week.

Western Australia’s Katanning yard had 27% of the total – more than double the actual number from the week prior and still increased their price to 1160¢/kg. Meanwhile Victoria’s average was 1280¢/kg, as the state’s four yarding numbers totalled less than Katanning alone. About little less than half of the national restocker indicator throughput was purchased by feeders according to the National Livestock Reporting Service.

All other lamb categories, except light lambs, rose this week, between 14¢/kg and 23¢/kg, as lamb yardings climbed above 200,000 head for the first time since the second week of February. While this pushed overall yardings slightly higher week-on-week, sheep numbers actually declined by about 7000 head. The mutton indicator did move up, albeit less so than lamb, increasing 8¢/kg to 800¢/kg. While this still puts it at 100% higher than the five-year average for the same week, mutton started to rise sharply at this time last year, meaning its year-on-year premium is at its lowest point for the year-to-date.

Total sheep and lamb slaughter was down 23% year-on-year last week, with lambs dropping 17% and sheep 38%. This follows the trend of lower supply compared to the past two years, despite historically strong prices no doubt encouraging as many sheep and lambs onto the market as possible. We have to mention heavy lambs at Ballarat reaching $500/head this week, a new national record. They weighed 83-109kg liveweight.