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Tight Supplies and Rain for Eastern States

08 May 2015

AUSTRALIA – Rainfall has dampened some Australian markets this week as tightening supplies have failed to bring much price uplift.

Analysts noted a further tightening in supply of lambs, with few major gains in the market, barring heavy lambs as a notable exception, up 18 cents to 573 cents per kilo hundredweight. 

"At the conclusion of Thursday’s markets, the eastern states restocker lamb indicator was 2¢ higher on 548¢/kg cwt," reported Meat and Livestock Australia (MLA). 

"Merino lambs eased only 1¢ to 501¢, while light lambs were unchanged on 533¢/kg cwt. The Eastern States Trade Lamb Indicator (ESTLI) increased 17¢ to 572¢, while heavy lambs improved 18¢ to 573¢/kg cwt."

Eastern states saw sheep throughput slip 21 per cent week on week and lamb fall ten per cent.

Regional trends were reflected by Wagga’s saleyard, where sheep yardings fell 20 per cent and lambs 10 per cent.

MLA also reported heavy rain for south east Queensland and northern New South Wales, receiving up to 200mm.

Heavy showers fell on southern Victoria, while rain was lighter further north. Tasmania reported significant falls and very western Australia received sporadic rain.

At yesterday’s close, the Eastern States mutton indicator closed ‘firm’ at 364 cents per kilo hundredweight.

An LMA spokesperson said: “Merino lambs lost 4¢ on 501¢, while light lambs were unchanged on 533¢/kg cwt. Trade lambs were up 4¢ on 572¢, while heavy lambs were 6¢ dearer on 573¢/kg cwt. The mutton indicator was firm and finished on 364¢/kg cwt.”

TheSheepSite News Desk

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