More records fell in the lamb market this week as high prices failed to draw increased numbers, showing that the winter supply shortage has well and truly kicked in. Prices continued their rise across all lamb categories as breeders and traders alike no doubt start to do the sums on where they might end up in the spring, which is also keeping the mutton price firm.
The Heavy Lamb Indicator closed the week at 1159c/kg, which represents a near $1/kg rise in the past four weeks. Heavy lambs broke a per head record at Forbes this week when a pen sold for $454, but the National Livestock Reporting Service quoted lambs as not well finished at a number of yards and therefore not reaching the higher prices, and increasing competition for good quality stock.
Nationally trade lambs finished at 1195c/kg, an increase of 35c/kg for the week. The Eastern States price was higher again, at 1209c/kg, with Wagga Wagga and Forbes yarding nearly half of the trade lamb throughput for the week and averaging 1259c/kg and 1228c/kg. NLRS reported supermarkets and processors were in strong competition with each other at Wagga, but some were only actively buying shorn lambs, while at Forbes, new season lambs sold from $232 to $312/head.
The mutton price held fairly firm nationally at 690c/kg, putting it at about 30% above the five-year-average. Again, a majority of saleyard throughput for sheep came from NSW, and the average for that state was higher at 704c/kg. Mutton and Merino Lambs were the only two categories to see an increase in numbers this week, with an extra 5000 sheep going through the indicator.
Restocker and light lambs had the most significant contraction in supply and rose 5c/kg and 7c/kg, respectively. Overall, lamb yardings dropped by about 20,000 head from the previous week, while sheep were back just 2000 head. National slaughter fell by more than 50,000 head and now trends significantly below year-ago levels for the first time in 2025, nearly back in the five-year-average zone.
The week ahead….
It looks like the lamb market has only got one direction to go between now and when we see new season lambs arrive in significant numbers, which will likely be later than usual, given the season in the south. This should continue to support the sheep market as well, and numbers might contract there as grass starts to grow in the coming weeks. What will be interesting to watch is if current prices and winter rainfall are enough to see restocker competition on lighter lamb types in the coming weeks.
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
The saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
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Supply stalls and slaughter slips further
The Heavy Lamb Indicator closed the week at 1159c/kg, which represents a near $1/kg rise in the past four weeks. Heavy lambs broke a per head record at Forbes this week when a pen sold for $454, but the National Livestock Reporting Service quoted lambs as not well finished at a number of yards and therefore not reaching the higher prices, and increasing competition for good quality stock.
Nationally trade lambs finished at 1195c/kg, an increase of 35c/kg for the week. The Eastern States price was higher again, at 1209c/kg, with Wagga Wagga and Forbes yarding nearly half of the trade lamb throughput for the week and averaging 1259c/kg and 1228c/kg. NLRS reported supermarkets and processors were in strong competition with each other at Wagga, but some were only actively buying shorn lambs, while at Forbes, new season lambs sold from $232 to $312/head.
The mutton price held fairly firm nationally at 690c/kg, putting it at about 30% above the five-year-average. Again, a majority of saleyard throughput for sheep came from NSW, and the average for that state was higher at 704c/kg. Mutton and Merino Lambs were the only two categories to see an increase in numbers this week, with an extra 5000 sheep going through the indicator.
Restocker and light lambs had the most significant contraction in supply and rose 5c/kg and 7c/kg, respectively. Overall, lamb yardings dropped by about 20,000 head from the previous week, while sheep were back just 2000 head. National slaughter fell by more than 50,000 head and now trends significantly below year-ago levels for the first time in 2025, nearly back in the five-year-average zone.
The week ahead….
It looks like the lamb market has only got one direction to go between now and when we see new season lambs arrive in significant numbers, which will likely be later than usual, given the season in the south. This should continue to support the sheep market as well, and numbers might contract there as grass starts to grow in the coming weeks. What will be interesting to watch is if current prices and winter rainfall are enough to see restocker competition on lighter lamb types in the coming weeks.
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Data sources: MLA, Mecardo.
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Exports find support in September
Australian sheepmeat exports were lifted in September but remained below year-ago and five-year average volumes on the back of lower domestic slaughter and global trade
Bounce back in market as lamb supply slows
Sheep and lamb supply fell away again this week prompting a significant boost to the market right across the board. National indicators rose up to
Lessons from weekly slaughter
The saying that history doesn’t repeat itself, but it rhymes, is certainly applicable to livestock markets. Having just seen the lowest September lamb slaughter in
Holding pattern ahead of the long weekend.
With the impending long weekend in NSW, the market was in a bit of a holding pattern this week, as most of the major indicators
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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.