Australia-This weeks Sheep Trade.

Sheep and lamb market alert

11/03/2009

Smaller yardings

Due to a public holiday in Victoria and SA on Monday, national lamb throughput declined 12%. Sheep supply on the other hand climbed 17% on last week. The dearer trend is encouraging both sheep and lambs onto physical markets, and is mainly driven by export buyers, trying to secure supplies for the American Easter period.

Lightweight lambs made up 39% of the total offering lamb offering with the majority heading to slaughter. Restockers are still active at physical markets, securing 33% of the total lightweight lambs. Trade lambs accounted for 35% and heavy lambs decreased in number to make up 26% of the lamb offering.

Mixed quality

Generally quality has been mixed, with the better quality lambs continuing to attract the strongest enquiry. Young lambs are virtually non existent, with the majority of lambs offered shorn.

Sheep quality has been varied and supplies increased due to the strong prices offered. Lightweight sheep accounted for 25% of the offering, medium weights made up 57%, while heavyweights accounted for the remaining 18%. The national sheep offering is dominated by medium weight ewes.

Indicators slip

At the conclusion of Tuesday markets, a number of the eastern states sheep and lamb indicators lost ground on last week. Restocking lamb and Merino lamb went against the trend to be firm at 391¢ and 337¢/kg cwt respectively. Light lamb plummeted 14¢ to 364¢, while trade lamb was just 1¢ cheaper to finish at 416¢/kg cwt. Heavy lamb declined 4¢ to end at 431¢/kg cwt. Mutton also lost ground to finish 4¢ cheaper at 193¢/kg cwt.