Lamb supply lifts year-on-year

The seasonal decline in lamb yardings across the eastern states is underway, although supplies are higher than they were the same time last year.

Lamb offerings at eastern states saleyards are tracking 8% higher so far in June, compared to the same period last year, as producers are enticed by strong prices. All eastern states lamb saleyard indicators remain well-above year-ago levels.

A public holiday last week saw eastern states lamb supplies at the physical markets drop by almost 30,000 head week-on-week, to around 157,000 head. Year-on-year, however, offerings were up 12%.

A full trading week this week resumed supply at major markets on Monday, such as Dubbo and Bendigo. There was a considerably larger lamb yarding at Dubbo than the previous sale a fortnight-ago, and there was a good quality selection of trade and heavy weight lambs on offer.

At Bendigo, however, despite there being no sale last week, supply eased and quality was lower – resulting in weaker demand.

At the conclusion of Monday’s markets:

• The eastern states restocker lamb indicator was 44¢ lower week-on-week, at 702¢/kg cwt
• Merino lambs slipped 17¢ to 614¢, while light lambs decreased 16¢, to 658¢/kg cwt
• The Eastern States Trade Lamb Indicator eased 15¢ to 658¢/kg cwt
• The heavy lamb indicator was 6¢ lower on 648¢/kg cwt