National sheep supplies at markets reported by MLA’s NLRS increased 32% week-on-week.
Although the national mutton indicator gained ground over the previous two weeks due to tighter supplies, the lift in yardings this week contributed to a 5¢ week-on-week fall, with the indicator averaging 320¢/kg cwt.
The inclusion of Inverell’s fortnightly sale contributed to a 31% week-on-week increase in NSW sheep throughput.
Sheep supply across all other eastern states also lifted.
In the west, the dry conditions prompted producers to offload more sheep, with WA supply rising 14% on last week.
Quality was mixed for most categories of mutton at physical markets this week.
Heavier weights again accounted for a large percentage, with producers taking a wait-and-see approach.
Processor demand was strong across medium and heavy weight categories.
At the conclusion of Thursday’s markets, the NSW mutton indicator was 2¢ lower on 321¢, while Victoria lifted 1¢ for the week on 342¢/kg cwt.
The SA mutton indicator decreased 14¢ to 307¢, while the WA indicator fell 12¢ to average 298¢/kg cwt.
Source: MLA.com
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