National lamb supply as reported by MLA’s NLRS was similar to last week. The slight lifts in NSW and Victoria lamb throughput helped to counteract the fall in supply in SA and WA.
National sheep supply decreased just 1% week-on-week, with the slide in prices and demand attributing factors. NSW, Victoria and WA all recorded larger throughput, while SA supply was 32% lower.
Quality improved over all new season lamb categories with most going to slaughter, with limited restocker activity evident. There were good percentages of Merino lambs yarded, however they attracted a weaker trend at Naracoorte.
The sheep offered continued to be of mixed quality. Tamworth included some of the best sheep yarded for some time, however the market trend retreated due to limited competition. There were also large numbers of well covered sheep at Bendigo.
At the conclusion of Tuesday’s markets the eastern states restocker lamb indicator was 14¢ higher on 400¢/kg cwt. Merino lambs lifted 11¢ to 307¢, while light lambs increased 14¢ to 362¢/kg cwt. Trade lambs strengthened 5¢ to 392¢, while heavy lambs gained 10¢ to 389¢/kg cwt.
The mutton indicator finished 16¢ lower on 171¢/kg cwt.
Source: Argentine Beef Packers S.A.
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