With greater lamb supply this week across the eastern states at markets reported by MLA’s NLRS, prices continued to retreat.
Most consignments across physical markets were showing signs of the dry conditions, and as a result demand remained selective.
At the conclusion of Thursday’s markets the eastern states restocker lamb indicator was 41¢ lower on 390¢/kg cwt, as producer confidence due to the lack of rain and uncertain harvest prospects dwindle.
Merino and light lambs both decreased 11¢ to settle on 301¢ and 349¢/kg cwt respectively.
Trade lambs lost 11¢ to 370¢, while heavy lambs also declined 8¢ to 376¢/kg cwt.
There was a slight decrease in sheep supply, but that failed to have any impact with the indicator falling 5¢ to finish on 152¢/kg cwt.
Source: Argentine Beef Packers S.A.
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