Lower throughput for lambs indicates the approach of winter. Whilst lamb indicators were lower, mutton markets found some favour this week, improving week on week despite more numbers through the yards.
Trade lambs fared the worst this week despite lower throughput,
resulting in the Eastern States Trade Lamb Indicator (ESTLI) losing 33¢ to 653¢/kg
cwt. Saleyard reports across the East Coast cited that domestic buyers continue
to be present but were more selective as the quality of presented stock begins
to decline (typical of this time of year).
The national restocker lamb tracked sideways this week despite
a 36% increase in numbers that qualify for the indicator. Light lambs and Merino lambs lost 7-8¢ for the
week and heavy lambs were 15¢ lower overall nationally.
Mutton prices have been relatively steady this Autumn and
were the best performers this week, as the National Mutton Indicator (NMI)
improved 20¢ to 277¢/kg cwt, an 8% week on week improvement. The throughput of
Mutton to the yards was 13% higher than last week but bidding remained strong.
Wagga, which drove the increase in mutton yardings this week saw strong bidding
for mutton per MLA saleyard reports.
Mutton demand was covered in more detail earlier this week
by Jamie-Lee Oldfield (read here). Mutton slaughter has increased in line with
lamb but is still higher than the long-term average. However, mutton prices are
still at 10-year lows and lagging lambs as restocker interest remains subdued.
East Coast lamb slaughter last week increased 25% to 447K
which is testing the upward bounds of recent history.
Next week
Victorian restocker lambs lost 45¢ for the week. With some rainfall reaching North-West Victoria and saleyard reports noting a lack of grain-finished lambs there could be a response from the market in the coming week or so if supply backs off.
Lower throughput for lambs indicates the approach of winter. Whilst lamb indicators were lower, mutton markets found some favour this week, improving week on week
The mutton market has held fairly steady throughout the autumn, but it hasn’t experienced the same rebound as lamb in recent weeks. The national mutton
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In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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Winter lamb cool down
Trade lambs fared the worst this week despite lower throughput, resulting in the Eastern States Trade Lamb Indicator (ESTLI) losing 33¢ to 653¢/kg cwt. Saleyard reports across the East Coast cited that domestic buyers continue to be present but were more selective as the quality of presented stock begins to decline (typical of this time of year).
The national restocker lamb tracked sideways this week despite a 36% increase in numbers that qualify for the indicator. Light lambs and Merino lambs lost 7-8¢ for the week and heavy lambs were 15¢ lower overall nationally.
Mutton prices have been relatively steady this Autumn and were the best performers this week, as the National Mutton Indicator (NMI) improved 20¢ to 277¢/kg cwt, an 8% week on week improvement. The throughput of Mutton to the yards was 13% higher than last week but bidding remained strong. Wagga, which drove the increase in mutton yardings this week saw strong bidding for mutton per MLA saleyard reports.
Mutton demand was covered in more detail earlier this week by Jamie-Lee Oldfield (read here). Mutton slaughter has increased in line with lamb but is still higher than the long-term average. However, mutton prices are still at 10-year lows and lagging lambs as restocker interest remains subdued.
East Coast lamb slaughter last week increased 25% to 447K which is testing the upward bounds of recent history.
Next week
Victorian restocker lambs lost 45¢ for the week. With some rainfall reaching North-West Victoria and saleyard reports noting a lack of grain-finished lambs there could be a response from the market in the coming week or so if supply backs off.
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Click on graph to expand
Data sources: MLA, Mecardo
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A party mix of results for lamb and sheep
There were mixed results for the indicators this selling week as the season slows down. Mutton cleared the 300c/kg hurdle for the first time since
Reassessing a ‘good’ price for mutton
Last week Mecardo looked at the mutton market, and how it related to the levels of last year. This week we take a deeper dive
Winter lamb cool down
Lower throughput for lambs indicates the approach of winter. Whilst lamb indicators were lower, mutton markets found some favour this week, improving week on week
Mutton market still out of step
The mutton market has held fairly steady throughout the autumn, but it hasn’t experienced the same rebound as lamb in recent weeks. The national mutton
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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.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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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.