Lamb prices lift under tighter supplies

Saleyard lamb supply this week totalled 111,886 head – down 13% week-on-week. The widespread rain across most saleyard catchment areas hampered stock transportation, with Victoria and NSW the most affected.

In addition, lamb slaughter rates also decreased, back 4% year-on-year to 348,229 head – attributed mainly to the loss of processing facilities in Queensland but also fewer head processed in SA and Tasmania.

For the first two weeks of September the majority of lambs yarded were young lambs, with most coming out of NSW currently and the new season flush yet to flourish in Victoria. Compared to the same period last year restocker purchases have more than halved across the eastern states, down 71% to 6,829 head – with higher prices year-on-year attributing to less purchases in the market.

Eastern states daily lamb indicators continue to out-perform year ago levels by 50¢ to 100¢/kg cwt.

• Eastern states restocker lamb indicator is 57¢ higher week-on-week at 635¢/kg cwt
• Merino lambs lifted 13¢ to 561¢, while light lambs gained 14¢ to 597¢/kg cwt
• The Eastern States Trade Lamb Indicator (ESTLI) increased 12¢ to average 613¢/kg cwt
• Heavy lambs also settled on 613¢, up 8¢/kg cwt