Lamb OTH prices ease

Slaughter

With the Easter public holidays, eastern states sheep and lamb slaughter saw a weekly decline. For the week ending 10 April, lamb slaughter eased 22% to 259,981 head, yet remained 4% above the same week last year. Sheep slaughter totalled 54,923 head, back 28% from the week prior and 15% below year-ago levels.

Yardings

Last week saw national sheep and lamb yardings decline due to the Easter public holiday, however they remain elevated on year-ago levels. Lamb yardings totalled 68,968 head for the week ending 10 April, back 44% week-on-week, but 4% above the shortened week in 2019. Sheep numbers were back 51% from the week prior to 33,499 head, but 53% higher than year-ago levels. Looking at yardings at a state level, New South Wales accounted for 42% of national lamb yardings last week, followed closely by Victoria at 38%, with Western Australia contributing 12%.

Demand in the eastern states on the back of improved conditions has been robust, in particular from NSW restockers. Interstate transfers out of Western Australia have increased significantly in recent months, due to the viability of transporting cross border.

OTH Prices

Lamb over-the-hook indicators saw significant shifts this week, with New South Wales recording an increase from last week, while Victoria and South Australia reported declines following a period of stability in recent weeks. Uncertainty in global markets continues to underpin current OTH trends. OTH lamb indicators for the week ending 17 April:

In New South Wales:

• Medium trade lamb averaged 813¢/kg carcase weight (cwt), back 28¢ week-on-week
• Heavy lamb averaged 825¢/kg cwt, back 15¢ week-on-week

In Victoria:

• Medium trade lamb averaged 813¢/kg cwt, back 28¢ week-on-week
• Heavy lamb averaged 825¢/kg cwt, back 15¢ week-on-week

In South Australia:

• Medium trade lamb averaged 782¢/kg cwt, back 24¢ week-on-week
• Heavy lamb averaged 778¢/kg cwt, back 30¢ week-on-week

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