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Lamb supply begins to ramp up
29 October 2015
Lamb supply continues to climb with 194,193 head yarded across the eastern states this week – up more than 4,000 head on last week and 2,000 head higher year-on-year. Conversely, eastern states mutton throughput slipped 3,600 head week-on-week, to 61,370 head, mainly attributed to lower consignments in NSW.
Over the past three weeks, lamb supplies have begun to ramp up, particularly in Victoria at Ballarat and Bendigo. Quality in Victoria improved this week, with a fair proportion of supplementary fed new season lambs entering those markets. Prices were mainly firm as buyers remain selective. Lamb and mutton forward price contracts put out in the past few weeks have been filling quickly, for January through to March delivery.
At the conclusion of Thursday’s markets:
- The eastern states restocker lamb indicator was 11¢ lower week-on-week, on 542¢/kg cwt
- Merino lambs eased 2¢ to 443¢/kg cwt
- Light lambs were 4¢ higher on 478¢/kg cwt
- The Eastern States Trade Lamb Indicator (ESTLI) slipped 5¢ to 501¢/kg cwt
- The heavy lamb indicator gained 9¢ to 499¢/kg cwt
- The mutton indicator was 24¢ higher week-on-week, at 326¢/kg cwt.
