Australia-Lamb markets this week.

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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 10¢ to 411¢, while Merino lamb went against the trend to be 9¢ higher at 381¢/kg cwt. Light lamb slipped 21¢ to 387¢, while trade lamb declined 10¢, finishing at 458¢/kg cwt. Heavy lamb was 9¢ cheaper at 459¢/kg cwt.

As the demand for mutton increased and competition intensifies, mutton finished 15¢ higher than last week at 237¢/kg cwt. As a reflection at physical markets, OTH heavy mutton rates topped at 280¢/kg cwt in NSW and Queensland.