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Lamb and mutton prices remain strong year-on-year
01 October 2015
Eastern states lamb throughput, at MLA reported saleyards, lifted 26% week-on-week, to 177,130 head. Supply was higher across all of the eastern states as warmer conditions are expected this weekend. Quality of young lambs was good, however trade and heavy weight young lambs failed to gain strong traction in the market, with erratic buyer demand.
Although lamb prices fluctuated, they have started to recover from the declines felt over the last couple of weeks. At the conclusion of Thursday’s markets:
- The eastern states restocker lamb indicator was 2¢ lower week-on-week, on 565¢/kg cwt.
- Merino lambs gained 35¢ to 472¢, while light lambs improved 16¢, to 505¢/kg cwt.
- The Eastern States Trade Lamb Indicator (ESTLI) was up 5¢ on last week, on 524¢, and remains 52¢/kg cwt higher year-on-year.
- The heavy lamb indicator eased 8¢ on 507¢/kg cwt.
Mutton consignments were firm week-on-week, at 61,203 head. Eastern states sheep slaughter lifted to its highest point since the first week of March, with 146,865 head processed at the close of last week. This increase is not uncommon for this time of year, with shearing and lamb marking taking place, seeing producers offload any underperforming or cull mutton.
At the close of Thursday’s markets:
- The mutton indicator was 14¢ cheaper week-on-week, on 330¢, however remains 17¢/kg cwt higher than the corresponding week last year.
