Tuesday 30 October 2012
Sheep and lamb market
National lamb supply at markets reported by MLA’s NLRS decreased 4% week-on-week.
Falls of 21% and 44% were recorded in NSW and WA respectively. This was primarily due to physical market prices declining and higher supplies the previous week.
There were however, slightly larger numbers penned across Victoria, while SA increased 27%, as the dry conditions continue.
National sheep supply increased 11% week-on-week, spurred on by 59% higher mutton throughput in NSW as all other states supply decreased.
As the dry conditions prevail most new season lambs are lacking freshness, while shorn lamb numbers have also lifted. Demand continues to weaken across all categories, however extra local restocker and feeder interest was recorded at both SA markets on light lambs.
Mutton quality remains mixed with erratic bidding still evident. Heavy and over conditioned drafts at Ballarat recorded a cheaper trend, while light weights were keenly sought after, attracting higher prices.
Prices continue to slide
At the conclusion of Tuesday’s markets the eastern states restocker lamb indicator was 28¢ lower on 377¢/kg cwt. Merino lambs lost 19¢ to 285¢, while light lambs eased 2¢ to 345¢/kg cwt.
Trade lambs decreased 22¢ to 355¢, while heavy lambs were 23¢ lower on 358¢/kg cwt. The mutton indicator declined 3¢ to 150¢/kg cwt.
Source: Argentine Beef Packers S.A.
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