MLA market insights: weekly update
03 February 2023
Key points:
- On Thursday 16 February, Meat & Livestock Australia (MLA) will present a live webinar covering all key aspects of Australia’s sheep flock and its forecasts for 2023.
- From 3 February, improvements will be made to MLA’s suite of sheep and cattle indicators, including the retirement of the indicators deemed not suitable to current and future market needs.
- Further improvements and the release of new indicators will occur over the coming months.
- Most market indicators improved this week due to reduced supply of stock and rain supporting improved buyer demand.
Sheep Projections webinar
On Thursday 16 February at 11am AEDT, MLA’s Market Information team will present their free annual live webinar discussing the forecasts for the 2023 sheep and lamb industry. The webinar will cover flock size, sheep and lamb slaughter, production, carcase weights and key global export market competitors.
A recording will be made available for those that cannot attend.
To register for the webinar, click here
Indicator changes
After extensive industry consultation and data analysis of indicator performance and throughput, MLA’s existing indicators will either undergo retirements, or improvements will occur, to ensure that current tools of existing indicators meet the industry’s needs and demands.
Additionally, four improved indicators will be launched to MLA’s Prices and Markets webpage this week. A week’s grace period will occur before their equivalents are retired.
The indicators will reflect the findings from the data analysis undertaken by the Market Information team as well as the consultation which ensured direction was provided for the consideration of the industry’s needs and demands when making these changes.
Table 1. Improved indicators specifications
|
New Indicator |
Specifications |
|
Heavy Steer |
All Fat and Muscle Scores 400-750kg + weight range Sale Prefix: PR Category: Grown Steer |
|
Processor Cow (previously Medium Cow) |
All Fat and Muscle Scores 400-520kg + weight ranges Sale Prefix: PR Category: Cows |
|
Heavy Lamb |
All Fat Scores 26.1-30, 30kg+ weight ranges Sale Prefix: PR Category: Lamb, Young Lamb |
|
Mutton |
All fat scores 14-30kg+ weight ranges Sale Prefix: RM, RS, DP, LE,1X, MR, PR Category: Ewe, Wether |
|
Dairy Cow (amalgamation of old Heavy Dairy Cow and Light Dairy Cow) |
All fat and muscle scores 0-520kg + weight ranges Sale Prefix: DA Category: Cows |
NB: All indicators will have the capacity to be filtered by weight.
As a result of the indicator review and its findings, due to recognising some indicators relevance, accuracy and reliability to current and future market needs were deemed needing to be retired. As of Thursday 9 February, the following indicators will be retired and removed from the website:
- Processor Yearling Steer
- Medium Cow
- Medium Steer
- Vealer Steer
- Light Dairy Cow
- Manufacturing Dairy Steer
If you would like backdated data for these improved indicators or any more information, please contact nlrs@mla.com.au
Short slaughter week
As a result of the Australia Day public holiday, slaughter volumes fell last week, although for most species remained above the corresponding week of 2022. This continues to reflect MLA’s expectations that slaughter should continue to improve and reflects a solid month for January 2023 compared to the COVID-19, flooding and animal performance affected January 2022.
Markets this week
Most indicators improved this week due to reduced supply of stock and rain supporting improved buyer demand. Restockers across most species and categories were particularly prominent.
It is expected that February will be a more reflective month of where the market and prices are set to perform in 2023 as school returns and consistent selling weeks fully commence after the typically disruptive summer holiday period.
