Lamb prices bounce back

At the close of today’s markets, eastern states lamb saleyard supply had increased 40,000 head week-on-week, to 166,859 head.

This week saw quality improve across the majority of saleyards, with the appearance of young lambs at Dubbo, Forbes and Wagga. Demand increased at Bendigo on better finished trade weight lambs. Shorn lambs were a feature of Wagga sale and sold to solid domestic demand, while restockers were quiet due to current seasonal conditions.

After some downward movement last week, saleyard lamb indicators have since made somewhat of a recovery. At the conclusion of Thursday’s markets, across the eastern states this week:

• The restocker lamb indicator gained 165¢ on last week to 698¢/kg cwt – its highest point in four weeks
• Merino lambs lifted 29¢ to 579¢, while light lambs increased 40¢ to 614¢/kg cwt
• The Eastern States Trade Lamb Indicator (ESTLI) was 23¢ higher to 628¢/kg cwt
• The heavy lamb indicator lifted 12¢ to average 617¢/kg cwt

Eastern states mutton yardings lifted 10,000 head week-on-week, to 52,157 head. Demand remains strong, with the eastern states mutton indicator 11¢ higher week-on-week, to 439¢/kg cwt at the close of markets today.