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Prices firm despite early lift in supply
12 November 2015
Eastern states lamb supply, reported by MLA, lifted 22% week-on-week, to 222,645 head. The overall rise in throughput was attributed to NSW and Victoria, while SA consignments declined. Victoria yarded 122,422 lambs this week, with Hamilton sales now split and Ballarat offerings starting to ramp up. This seasonal increase in numbers in Victoria is about two weeks earlier than usual, with hot and dry conditions driving turn-off.
Despite the higher supply, eastern states saleyard prices were mostly firm to slightly dearer week-on-week, as good rainfall over the last week spurred restocker interest. At the conclusion of Thursday’s markets:
- The eastern states restocker lamb indicator was 22¢ higher week-on-week on 543¢/kg cwt
- Merino lambs gained 4¢ to 461¢, while light lambs lifted 7¢ to 491¢/kg cwt
- The Eastern States Trade Lamb Indicator (ESTLI) eased 9¢ to 502¢/kg cwt
- The heavy lamb indicator gained 2¢ to 503¢/kg cwt
