Lamb prices lower as supply lifts
15 November 2016
In the first two weeks of November, eastern states weekly lamb saleyard throughput exceeded 200,000 head, and it is likely this week will reach similar levels. This is reflective of the trend recorded the same time last year, where increased yardings in western Victoria, namely at CVLX Ballarat and Hamilton, attributed to a surge in supply prior to the Christmas break.
Quality so far this week has reportedly been mixed, with most young lambs at Forbes showing dryness, while lambs at CVLX Ballarat showed excellent finish and plenty of weight.
Processor competition in the physical market eased in NSW this week, which saw prices firm to lower, and a rise in restocker activity. A good quality selection of lambs met solid competition and extra buyers at Bendigo and CVLX Ballarat in Victoria, which supported a rise in prices.
At the conclusion of Monday’s markets:
- The eastern states restocker lamb indicator slipped 8¢ week-on-week and 61¢ year-on-year, to 610¢/kg cwt
- Merino lambs eased 23¢ to 518¢, while light lambs decreased 14¢ to 557¢/kg cwt
- The Eastern States Trade Lamb Indicator (ESTLI) was 15¢ lower on 531¢/kg cwt
- The heavy lamb indicator decreased 17¢ to settle on 516¢/kg cwt
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