For the week ending the 9th of April 142,007 lambs were yarded in eastern saleyards. This was a 17% lift on the short-selling week at the back end of Easter, but still 11% below the five-year average. The only state not contributing to an increase in throughput was South Australia, where yarding’s were 37% lower than the week prior.
Sheep also jumped back into the yards, with east coast numbers tallying to 43,706 last week. While this was a 52% gain on the week prior, it’s still 30% under the seasonal average.
This week on Mecardo Angus Brown looked at the supply and price spreads between states (view here), noting that we could be seeing a period where lambs are being offloaded in NSW, as finished lambs are sold to make room for sowing crops. NSW yarding’s don’t look like much compared to the five-year average (-20%) but just taking the last three weeks, NSW throughput has been 42% higher than the same period last year.
The Eastern States Trade Lamb Indicator (ESTLI) lost 26¢ to end the week at 816¢/kg cwt. Falls in the east coast markets were widespread across states and categories. Light lambs and Merino lambs in Victoria lost 76 and 64¢ respectively, while the falls were more modest in Trade and Heavy lambs. In NSW all lamb categories ended this week 10 to 20¢ lower, and in SA it was Restockers that took the largest tumble, down 99¢ to 926.
On a brighter note, recent gains in Western Australia continued this week. The Western Australian Trade Lamb Indicator lifted 23¢/kg cwt to 753¢/kg cwt, which places it at an 8% discount to the ESTLI.
Mutton didn’t hold onto last week’s gains in the east, resulting in the National Mutton Indicator shedding 40¢. However, in the West, Mutton gained 18¢ to 575¢/kg cwt.