The last week of reported sales for 2022 ended on a more positive note with a dearer trend present across most categories of lamb and sheep. While the market is well down on year-ago levels, buyers are seeing opportunity at current rates to make the most of abundant feed.
The Eastern States Trade Lamb Indicator (ESTLI) lifted 20¢ over the week to 720¢/kg cwt. The ESTLI finished the year down 16% year-on-year. In the West the Trade Lamb Indicator lost 45¢, ending the year at 593¢.
Merino lambs were the only National indicator to end the week softer, losing 28¢ to 554¢. Heavy lambs were again reported as in short supply so buyers were pushed to increase there bidding and the National heavy lamb indicator gained 12¢ to 766¢. This is 12% lower year-on-year.
Restocker lamb prices increased in all eastern states with both SA and NSW seeing around a 55¢ jump week on week. The National restocker lamb indicator improved just 5¢ over the week to 678¢, dragged down by a weaker market in WA. The restocker indicator is 25% below the same time last year.
Supply of mutton increased this week but so did price. The National Mutton Indicator found an extra 12¢ to settle at 372¢/kg cwt, which is down 38% year-on-year.
Early yardings reports show a lift in lamb throughput of nearly 50,000 head compared to last week. Lamb yardings continue to track below the same time last year.
For the week ending the 9th of December, 355,751 lambs were processed in the east, which is 2% more than the same week in 2021, but 3% below the five year average.
The week ahead….
The normal trend is to see trade lamb prices improve in January, however that wasn’t the case in 2021/22. This year again we have a lot of lambs still to come through the system in the new year which doesn’t give us much optimism for a quick price recovery. However with restocker lamb prices below five year average levels and a large spread to finished stock, this should support the store market.
Lambs continue to reclaim the saleyards, with mutton prices remain the beneficiary. With the Easter and the Anzac Day breaks approaching, the top end trade
The March Meat and Livestock Australia (MLA) Australian Sheep Industry Projections were released on Monday. The projections provide a view on where the sheep supply
First week of autumn saw slight fluctuations in the value of the majority of indicators, yardings retreated, as did some of the buyer’s demand according
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Stocking up on lambs this Christmas
The Eastern States Trade Lamb Indicator (ESTLI) lifted 20¢ over the week to 720¢/kg cwt. The ESTLI finished the year down 16% year-on-year. In the West the Trade Lamb Indicator lost 45¢, ending the year at 593¢.
Merino lambs were the only National indicator to end the week softer, losing 28¢ to 554¢. Heavy lambs were again reported as in short supply so buyers were pushed to increase there bidding and the National heavy lamb indicator gained 12¢ to 766¢. This is 12% lower year-on-year.
Restocker lamb prices increased in all eastern states with both SA and NSW seeing around a 55¢ jump week on week. The National restocker lamb indicator improved just 5¢ over the week to 678¢, dragged down by a weaker market in WA. The restocker indicator is 25% below the same time last year.
Supply of mutton increased this week but so did price. The National Mutton Indicator found an extra 12¢ to settle at 372¢/kg cwt, which is down 38% year-on-year.
Early yardings reports show a lift in lamb throughput of nearly 50,000 head compared to last week. Lamb yardings continue to track below the same time last year.
For the week ending the 9th of December, 355,751 lambs were processed in the east, which is 2% more than the same week in 2021, but 3% below the five year average.
The week ahead….
The normal trend is to see trade lamb prices improve in January, however that wasn’t the case in 2021/22. This year again we have a lot of lambs still to come through the system in the new year which doesn’t give us much optimism for a quick price recovery. However with restocker lamb prices below five year average levels and a large spread to finished stock, this should support the store market.
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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
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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.