Lamb prices open 2017 on a high

17 January 2017

Most of MLA’s NLRS reported saleyards recommenced operation last week following the Christmas break, which saw national weekly lamb saleyard indicators open 2017 on a high.

Tighter supplies assisted prices to remain buoyant, which is typical for the beginning of the year, and increased demand from the processing sector spurred prices on further.

At the conclusion of last week, the national restocker lamb indicator averaged 657¢, 139¢/kg cwt higher year-on-year. Merino lambs lifted 65¢ to settle on 525¢, while light lambs gained 127¢ to average 600¢/kg cwt. The National Trade Lamb Indicator (NTLI) averaged 591¢, 77¢ higher year-on-year, while the heavy lamb indicator gained 53¢ to settle on 581¢/kg cwt.

Lamb saleyard indicators continued to rise at the close of yesterday’s markets; however hot and dry weather across the eastern states is likely to see an increase in stock turnoff and impact on lamb finish. Looking ahead, lamb saleyard indicators generally trend upwards into February, before levelling out in March.

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