Buyers are back baby – Mecardo

The Eastern States Trade Lamb Indicator (ESTLI) ended the week 2% (14c/kg) higher than the previous week, reaching 686c/kg cwt. Yardings have more than doubled from the week before, by 113%! Wagga dominated the indicator with the largest contribution of 27% and the 4^e highest average price of 699 c/kg. Corowa had the highest average of all sales yards for the indicator, averaging 8% above the indicator at 744 c/kg.

The National Mutton Indicator continued its rebuild towards the 300c/kg mark. It ended the sales week up 7% (18c/kg) to 256c/kg. The supply from the paddock increased by 57% to a total of 51.8,000 pieces. Once again Wagga is the biggest contributor to the indicator after last week when there were no sales. The Wagge sales report stated that not all buyers attended or participated in the mutton market. Nevertheless, the average was 8% above the indicator, namely 276 c/kg.

Lamb restocking prices rose 17% (73 cents/kg), pushing the indicator back above the 500 cents/kg mark and ending the week at 506 cents/kg. Yardings increased by 76% to a total of 22.4k units. Muchea in the West has the second highest contribution to the indicator in terms of workforce, at 13.6% of the total. However, the price was significantly lower than the East Coast. Muchea averaged 290c/kg for the indicator, was 43% below the indicator and 56% cheaper than Wagga, which had the largest volume contribution.

Last week’s slaughter figures fell week on week due to one fewer working day at abattoirs during ANZAC Day, a public holiday. Slaughter levels are still at a high level, with lamb slaughter on the east coast increasing by 22% in the past week compared to the week’s five-year average. Sheep numbers are even higher in relative terms, with slaughter volumes on the East Coast up 75% in the same week compared to the five-year average.