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Lamb prices firm as yardings remain high
03 December 2015
Eastern states lamb saleyard throughput remained very similar week-on-week, with 250,534 head yarded. Hamilton’s Wednesday lamb sale set a new record for the most lambs yarded at NLRS reported saleyards, at 58,631 head. Lamb prices generally firmed this week, which is usually the case heading into the Christmas period and most processing facilities reduce operation.
At the conclusion of Thursday’s markets:
- The eastern states restocker lamb indicator was 10¢ lower on 541¢, although still remains the highest across the eastern states lamb indicators and up 44¢/kg cwt on last year.
- Merino lambs gained 14¢ to 470¢, while light lambs eased 2¢ to 504¢/kg cwt.
- The Eastern States Trade Lamb Indicator (ESTLI) lifted 9¢ to 524¢, and is 15¢/kg cwt above this time last year.
- The heavy lamb Indicator increased 16¢ to 533¢/kg cwt.
Forward contracts for early next year delivery remain promising for lamb and mutton as the Bureau of Meteorology’s three month outlook forecasts a drier than average summer period, which will further exacerbate already dwindling feed supplies in parts of Victoria and SA.
