Lamb indicators ease as saleyard supply boosts

At the conclusion of Monday’s markets, the Eastern States Trade Lamb Indicator (ESTLI) was down 38¢ from the same time last week, to 552¢/kg cwt. While the greater number of lambs on the market caused downward pressure on price, the ESTLI remains 72¢/kg cwt higher year-on-year.

Saleyard supply at the close of last week totalled 261,537 head across the eastern states - a significant lift (91%) from the previous short trading week. The fine and dry weather also assisted market accessibility for many producers. 

With the young lamb flush in full swing in NSW and building in Victoria, restocker lamb purchases have accounted for 24% of total young lamb supplies, significantly higher than the previous week; however remains similar year-on-year. Meanwhile, the restocker lamb indicator shifted down, slightly, compared to other indicators over the week, down 13¢ week-on-week, to 600¢/kg cwt.

Other eastern states daily indicators for the week all eased:

• Merino lambs slipped 10¢ to average 517¢/kg cwt
• Light lambs decreased 44¢ to settle on 552¢/kg cwt
• The heavy lamb indicator eased 42¢ to average 539¢/kg cwt

Supply may plateau in NSW in the coming weeks, however it is expected that Victorian lamb yarding’s should rise over the coming month as the market is yet to see the spring flush in western Victoria, which is expected in November.