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Premium increases for NSW lambs
05 November 2015
Widespread rain across most of the country this week saw lamb yardings contract in NSW and SA, while young lamb supply ramped up at Ballarat and Hamilton, seeing overall Victorian yardings increase. On balance though, eastern states saleyard throughput was 6% lower week-on-week, totalling 183,119 head.
Of note this week was the widening gap between NSW and Victorian lamb prices. While NSW didn’t fare too badly, poor seasonal conditions in Victoria depressed the market, despite most of the young lambs presenting in good condition.
NSW lamb prices generally track slightly above Victoria’s in October, but this week the gap between NSW and Victoria’s trade lamb indicator was almost 50¢/kg cwt. This is also reflected in current over-the-hook quotes, with the top prices for trade lambs in Victoria at 480¢, while NSW is 500¢/kg cwt.
Saleyard prices typically dip during October, before stabilising after the young lamb flush and then begin to gradually increase in November.
At the conclusion of Thursday’s markets:
- The eastern states restocker lamb indicator was 21¢ lower week-on-week, at 521¢, although is up 59¢/kg cwt on year-ago levels
- Merino lambs gained 14¢ to 457¢, while light lambs were 6¢ higher on 484¢/kg cwt
- The Eastern States Trade Lamb Indicator (ESTLI) lifted 10¢ to 511¢/kg cwt
- The heavy lamb indicator was 2¢ dearer on 501¢/kg cwt
- The mutton indicator jumped 7¢ to settle on 333¢/kg cwt
Saleyard throughput is only from those reported by MLA
