Lamb supply eases

Eastern states lamb supply totalled 178,152 head this week, decreasing 29% week-on-week, mostly driven by lower NSW supply.

For the month of February, however, lamb supply increased 17% year-on-year to total 911,337 head. The hot weather, as well as positive price returns at the saleyards, has contributed to the rise in turnoff.

Despite the increased turnoff at the physical market for the month, eastern states lamb slaughter contracted in February, with the average weekly kill at 354,913 head, down 4% year-on-year.

At the conclusion of Thursday’s markets:

• The eastern states restocker lamb indicator decreased 28¢ week-on-week to 667¢/kg cwt
• Merino lambs slipped 35¢ to 558¢, while light lambs decreased 21¢ to 600¢/kg cwt
• The Eastern States Trade Lamb Indicator (ESTLI) lost 30¢ this week to average 611¢, however remains 80¢/kg cwt higher year-on-year
• The heavy lamb indicator was 34¢ lower on 611¢/kg cwt