MLA’s weekly cattle and sheep market wrap
19 August 2021
Key points:
- Saleyards and NLRS reporting remains ongoing despite the NSW regional lockdown.
- NSW lamb processor will shut while it vaccinates it staff.
- National Trade Lamb prices are approaching an all-time record at 938c/kg.
NSW saleyards are business as usual
Despite regional NSW being in lockdown, saleyards remain open. Producers and stakeholders can be assured that during the lockdown prices and NSW, eastern states and national indicators will continue to be reported.
NSW processor closes due to COVID-19
A NSW processor has closed for a week due to the spread of COVID-19 in the regions. This processor’s closure is precautionary to ensure COVID-19 does not reach the facility. It is using the week-long closure to proactively vaccinate its staff.
Sheep it had purchased will be kept on the processor’s properties in the meantime.
Trade lamb prices climb 9% in one week
The National Trade Lamb Indicator reached a yearly high this week. It currently sits at 938¢/kg, under 1% below the all-time record of 949¢/kg set in 2019 and 2020. It surged 9% this week on the back of falling lamb yardings, as less old season lambs hit the market. However, the severity of the fall has been reduced by new season lambs that are beginning to come on the market, and which are commanding a premium.
It is worth noting that this has been achieved at the same time as the aforementioned processor closure in NSW due to COVID-19, and should provide confidence that the virus has not disrupted the overall strength of the market.
© Meat & Livestock Australia Limited, 2021
