Sheep and lamb grids continue to rise

Widespread rain across the eastern seaboard last week helped lift over-the-hook lamb and mutton indicators this week, compounding the impact of a smaller 2016 lamb crop and an already tight sheep supply. The performance of these indicators for the year-to-date has been the highest since MLA began reporting, with NSW, Victoria and SA trade lambs (18-22kg cwt) averaging 599¢, 627¢ and 602¢/kg cwt, respectively, so far this year.

In NSW, over-the-hook indicators for trade weight lambs averaged 644¢ this week, more than 20¢/kg cwt higher week-on-week. While medium weight (18-24kg cwt) sheep indicators are yet to surpass year-to-date 2011 average levels (384¢), they are on the trajectory to, averaging 379¢ for the year so far and 392¢/kg cwt this week.

Equally, in Victoria trade weight lamb indicators increased week-on-week, at 653¢, 123¢/kg cwt higher year-on-year. Medium weight sheep rates have outdone 2011 average levels (400¢) for the year-to-date, averaging 411¢, and remained firm this week at 427¢/kg cwt. 

Similarly, SA trade weight lamb indicators lifted week-on-week, to average 647¢, and are also 117¢/kg cwt higher year-on-year.