Eastern states lamb indicators ease as supplies lift

Increased supplies saw most eastern states lamb saleyard indicators lower week-on-week, with the majority of Monday’s markets recording higher yardings than last week.

Dubbo yarded nearly 7,500 more lambs week-on-week, to total 33,250 head, although quality was plainer and there was a larger selection of Merinos and White Dorpers on offer. Tamworth penned 3,350 head (up 12%), with some quality related price adjustments, while there were increased numbers of young lambs yarded at Bendigo, which saw old lamb prices ease.

• The eastern states restocker lamb indicator was 14¢ higher week-on-week, on 592¢/kg cwt, with better seasonal conditions continuing to boost restocker interest
• Merino lambs slipped 13¢ week-on-week, at 543¢, while light lambs were 22¢ lower on 565¢/kg cwt
• The Eastern States Trade Lamb Indicator (ESTLI) fell to its lowest level in three weeks, at 619¢, although remains 36¢/kg cwt higher year-on-year
• The heavy lamb indicator decreased 19¢, to 624¢/kg cwt

Greater numbers of young lambs are beginning to flow through saleyards, especially at southern markets. Over the next few weeks, the market will likely be supported by stronger demand for young lambs, as well as continued restocker activity – provided the Bureau of Meteorology’s positive three-month rainfall outlook comes to fruition.