Supply lower
National lamb supply at markets reported by MLA’s NLRS was 2% lower week-on-week, with the loss mainly attributed to NSW supply decreasing 13%.
Despite the slight decline in supply, all other states throughput lifted. Victoria and SA supply was 14% and 12% higher respectively. Over in the west, Muchea’s yarding was 71% stronger.
Conversely, national sheep supply lifted 7% week-on-week. NSW and SA supply both decreased, while Victoria throughput increased 10%. WA yarded 86% more sheep week-on-week.
Young lamb demand lifts
Demand lifted slightly for good quality new season lambs, while old lamb quality was mainly plain and attracted less interest from buyers.
In Victoria, large numbers of light processing and light trade lambs were available with a reduced supply of heavier trade and heavy lambs.
Dubbo however yarded a good number of heavy lambs estimated to weight well over 30kg cwt.
Mutton quality remains very mixed. At Muchea, ewe mutton lost ground due to faltering trade demand, however lightweight drafts gained more interest from restockers.
Prices increase
At the conclusion of Tuesday’s markets the eastern states restocker lamb indicator was 42¢ higher on 414¢/kg cwt. Merino lambs gained 26¢ to 323¢, while light lambs lifted 2¢ to 358¢/kg cwt.
Trade and heavy lambs were both 6¢ stronger on 416¢ and 404¢/kg cwt. The mutton indicator finished 16¢ higher on 242¢/kg cwt.
Source: MLA.com
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