At the conclusion of Thursday’s markets the majority of eastern states lamb indicators decline
d as reported by MLA’s NLRS, with the tighter supplies this week providing no support to most categories.
Restocker and feeder lamb buyers remain very cautious given the current seasonal conditions, with the restocker/feeder indicator falling 6¢, to 388¢/kg cwt. With more lambs yarded this week the Merino lamb indicator lost 9¢, to 289¢/kg cwt. Light lambs were the only category to gain this week, finishing 3¢ higher, at 344¢/kg cwt.
Eastern states trade lambs were 4¢ lower, averaging 390¢/kg cwt - remaining 9% below the five year average. Heavy lambs dropped 24¢, to average 375¢/kg cwt.
The mutton indicator finished 27¢ lower on 181¢/kg cwt, despite an excellent penning of mutton at Wagga. Competition continues to be the big issue for the mutton market, a combination of the increased lamb supplies, reduced restocker demand and sluggish returns from export markets.
Source: Argentine Beef Packers S.A.
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