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Prices Improve with More Young Lambs

25 August 2014
Meat & Livestock Australia

AUSTRALIA – Australian eastern states lamb supply, as reported by MLA’s National Livestock Reporting Service, was steady week-on-week, on 123,604 head.

MLA said that widespread rain helped to tighten supply at some markets, however this was largely offset by more young lambs appearing, especially in the south.

Old lambs of secondary quality are being discounted, while trade and heavy weight young lambs sold to more consistent demand this week.

At the conclusion of Thursday’s markets the eastern states restocker lamb indicator was 47¢ lower than a week ago, on 452¢/kg cwt. Merino lambs gained 20¢ to 401¢, while light lambs were 13¢ higher on 430¢/kg cwt. The Eastern States Trade Lamb Indicator (ESTLI) lifted 5¢ to 480¢, while heavy lambs eased 1¢ to settle on 480¢/kg cwt.

Eastern states mutton supply was 10% lower week-on-week, at 41,092 head. The tighter supply saw prices improve, with the mutton indicator up 14¢ on 344¢/kg cwt.

 

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