The final selling week of winter was largely flat, with some small gains in value. Supply from the paddock to the saleyard was down slightly for lambs and steady for sheep with a total yarding of just over 251k head. The new season lambs continue to drag up price averages, with buyers chasing weight and quality creating strong competition at the rail.
The
Eastern States Trade Lamb Indicator rose by 1% (6 c/kg) to 818 c/kg, with yardings
for the indicator also 2% higher week-on-week. Wagga’s contribution to the
indicator was significant, it contributed 24% of the volume for the selling
week and had the highest selling average of 858 c/kg. Its saleyard report mentions
a big field of buyers and solid competition.
Mutton
prices slipped slightly, down 1% to 362 c/kg, with a 2% increase in yardings
for the week. The National Mutton Indicator is now back to where it was at the
start of July before its rally and subsequent fall in August. Compared to a
year ago, it’s almost double, with the value currently a 92% increase year on
year. Wagga again topped the charts for both volume and value for the mutton offering.
Heavy
Lambs rose 3% in value for the week up 21 c/kg to 841 c/kg. The rise in value was
helped by a tightening in supply, with 26% less on offer compared to last week.
At the other end of the scale, light lambs also had a 3% rise in value, its
yardings only down 2%.
Prices
for the new lambs, where reported in the NRLS saleyard reports seem to be
relatively flat, averaging between 800-900c/kg. Numbers are growing steadily as
more and more hit producers’ target weights. Buyers
are having to compete for the heavier grain-assisted fresh lamb, which are still
a little bit short on the supply side, as the season continues to gain momentum.
Total lamb and sheep slaughter for the week prior was down 6%
compared to the week before. SA lamb slaughter was down 97% indicating some
shutdowns at processing plants in the festive state.
Initial yardings data from the NRLS show that total
throughput of lambs and sheep decreased 4% week on week. This was driven by
lambs which fell by 5% (9.1k head) to a total of 170k head. Sheep were flat
week on week (down 101 head) to a total of 82.2k head.
Next week
The BOM has some rain forecasted for Western Victoria and Tasmania which is much needed. Unfortunately, South Australia is not predicted to get significant widespread rain, but a few areas are in with a chance of falls. Without a good spring, putting weight on lambs will be a challenge in these areas. This will mean they will be offloaded at lighter levels. With a good outlook for finished lamb values, this presents an opportunity for restockers.
Back to business, and the saleyards have seen stock flood the yards. The sharks were circling as the mutton momentum continued. Indicators took the elevator
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Wagga walks ahead of the pack
The Eastern States Trade Lamb Indicator rose by 1% (6 c/kg) to 818 c/kg, with yardings for the indicator also 2% higher week-on-week. Wagga’s contribution to the indicator was significant, it contributed 24% of the volume for the selling week and had the highest selling average of 858 c/kg. Its saleyard report mentions a big field of buyers and solid competition.
Mutton prices slipped slightly, down 1% to 362 c/kg, with a 2% increase in yardings for the week. The National Mutton Indicator is now back to where it was at the start of July before its rally and subsequent fall in August. Compared to a year ago, it’s almost double, with the value currently a 92% increase year on year. Wagga again topped the charts for both volume and value for the mutton offering.
Heavy Lambs rose 3% in value for the week up 21 c/kg to 841 c/kg. The rise in value was helped by a tightening in supply, with 26% less on offer compared to last week. At the other end of the scale, light lambs also had a 3% rise in value, its yardings only down 2%.
Prices for the new lambs, where reported in the NRLS saleyard reports seem to be relatively flat, averaging between 800-900c/kg. Numbers are growing steadily as more and more hit producers’ target weights. Buyers are having to compete for the heavier grain-assisted fresh lamb, which are still a little bit short on the supply side, as the season continues to gain momentum.
Total lamb and sheep slaughter for the week prior was down 6% compared to the week before. SA lamb slaughter was down 97% indicating some shutdowns at processing plants in the festive state.
Initial yardings data from the NRLS show that total throughput of lambs and sheep decreased 4% week on week. This was driven by lambs which fell by 5% (9.1k head) to a total of 170k head. Sheep were flat week on week (down 101 head) to a total of 82.2k head.
Next week
The BOM has some rain forecasted for Western Victoria and Tasmania which is much needed. Unfortunately, South Australia is not predicted to get significant widespread rain, but a few areas are in with a chance of falls. Without a good spring, putting weight on lambs will be a challenge in these areas. This will mean they will be offloaded at lighter levels. With a good outlook for finished lamb values, this presents an opportunity for restockers.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Data sources: MLA, BOM, Mecardo
Categories
Have any questions or comments?
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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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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.