Flock of sheep in dry paddock

Supply pressure in Victoria was evident in the market this week with all types of lambs except those at trade weight ending cheaper. North of the border though, throughput is easing which helped to create a stable to dearer market this week.

The Eastern States Trade Lamb Indicator increased 8¢ to 849¢/kg cwt over the week. Trade lambs were keenly sought in the West, with the Western Australian Trade Lamb Indicator gaining 41¢ to 773¢/kg cwt.

In NSW it was restockers and light lambs that made the biggest gains over the week, moving 19¢ and 12¢ higher respectively. Trade lambs picked up an extra 9¢ in Victoria, while Heavy lambs fell 13¢ to 869¢/kg cwt. The Victorian Restocker Lamb Indicator made a minor move 2¢ lower and light lambs dropped 6¢ over the week.

Store lambs are still holding their own when compared to this time last year. The National restocker lamb indicator is 69¢ higher than 12 months ago, but it is finished lambs that are still holding the biggest improvements. The National Heavy Lamb Indicator is sitting 111¢ or 15% higher than the same time last year, while the National Restocker Lamb Indicator is 69¢ or 8% higher than 12 months ago.  

The mutton market was largely stable this week with the National Indicator losing just 2¢ to 632¢/kg cwt. The National Mutton Indicator is currently 17¢ higher than the same time last year.

For the week ending the 28th of November, east coast lamb yardings lifted another 12.5% to see 230,515 lambs yarded. This was still 5% below average for this point in the season. An easing of saleyard supply in NSW was well and truly offset by Victoria where over 120,000 lambs were yarded, a 42% increase on the week prior. Sheep yardings increased by 3% on the week prior.

The week ahead….

Most of Western Victoria enjoyed some dry days and sun on the sheeps back in the week just gone. The week ahead however, is currently looking very wet for most of the east. More rain in NSW should see supply continue to ease. With spring lambs coming out in force now in Victoria, a few more days of sun would be welcomed. 

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Data sources: MLA, NLRS, Mecardo

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