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AUSTRALIA
LAMB MARKET.
Sheep and lamb market alert
22/04/2009
High prices encourage supply
Both sheep and lamb supply at MLA’s NLRS reported saleyards more than doubled when compared to the same time last week. This is primarily due to the public holiday last week and markets such as Dubbo and Tamworth returning to normal trading days. However, when compared to a fortnight ago, supply still lifted 30% for lambs and 61% for sheep. This is due to the high prices at physical markets encouraging producers to offload.
Quality mixed
Generally lamb quality has been mixed with a number of lightweights suitable for the restockers and feedlotters. Around the central west of NSW, lambs have been showing good finish, while lambs coming from southern regions are generally plainer due to the persistent dry conditions.
Sheep quality has also been varied and most have been meeting strong inquiry from buyers, particularly the medium and heavy weights. The better quality sheep have been coming from northern NSW and southern Queensland. Mutton supplies in WA are constricted and there have been fewer lightweights yarded so far this week.
Indicators experience a mixed trend
At the close of Tuesday’s markets, the eastern states sheep and lamb indicators experienced a mixed trend from last week. Restocking lambs dropped 10ยข to 411ยข, while Merino lamb went against the trend to be 9ยข higher at 381ยข/kg cwt. Light lamb slipped 21ยข to 387ยข, while trade lamb declined 10ยข, finishing at 458ยข/kg cwt. Heavy lamb was 9ยข cheaper at 459ยข/kg cwt.
As the demand for mutton increased and competition intensifies, mutton finished 15ยข higher than last week at 237ยข/kg cwt. As a reflection at physical markets, OTH heavy mutton rates topped at 280ยข/kg cwt in NSW and Queensland.