National sheep supplies at markets reported by MLA’s NLRS increased 12% week-on-week and were also 12% above the corresponding period last year.
Demand for mutton still remains erratic, with the high A$ and sluggish overseas demand continuing to impact export returns.
Decreases in throughput were recorded in most states, but a 51% week-on-week jump in NSW dominated the national trend.
Victorian throughput decreased 11%, while SA and WA fell 16% and 6% respectively.
The decreases were primarily seen as a reaction to lower physical market prices in recent weeks.
At the conclusion of Thursday’s markets the national mutton indicator improved 4¢ week-on-week, to 153¢/kg cwt.
The NSW mutton indicator lifted 1¢ to 154¢, while in Victoria the mutton indicator decreased 2¢ to 150¢/kg cwt.
With tighter supplies in SA the mutton indicator managed to gain 9¢ to 142¢/kg cwt.
Added competition from restockers on all classes of mutton at Katanning helped the WA mutton indicator to strengthen 18¢ to 159¢/kg cwt.
Source: Argentine Beef Packers S.A.
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