Lamb over-the-hook indicators lower as supply builds

Over-the-hook lamb indicators across the eastern states decreased this week, mostly attributed to higher supplies at the saleyards and direct-to-works. However, most trade weight (18-22kg cwt) lamb indicators across NSW, Victoria and SA are between 30¢ to 50¢/kg cwt higher than the same time last year.

Trade weight (18-22kg cwt) over-the-hook lamb indicators in NSW declined 4¢ week-on-week to average 538¢, however are up 50¢/kg cwt on last year. Heavy weight (over 22kg cwt) lines were more affected by the price decline, down 5¢ to 20¢ week-on-week, to average 534¢/kg cwt.

The same downward trend was recorded in Victoria, though to a greater extent, with trade weight lambs down 23¢ week-on-week, to average 540¢/kg cwt. Trade and heavy weight lamb over-the-hook indicators in SA eased 7¢, with trade weights averaging 503¢ and heavy weights on 490¢/kg cwt.

Weekly eastern states lamb slaughter has been building during October, with the spring lamb flush. Last week:

• Lamb slaughter in NSW remained fairly similar to the previous week’s levels, totalling 118,381 head, up 19% year-on-year.
• Victorian lamb slaughter eased 1% from the week prior and 4% year-on-year, totalling 181,654 head
• Kill levels in SA were down 4% week-on-week and 23% year-on-year, to total 68,398 head at the close of last week.

If you would like to receive MLA’s over-the-hook or eastern states slaughter reports by email each week, please email marketinfo@mla.com.au