Australia: Confidence stripped from the lamb market
Mutton
Lamb
Meat
Australia
Published Jun 3, 2023
Tridge summary
There aren’t a lot of positives to take from the lamb and sheep market results this week. Unless of course, you were looking to buy. Prices fell heavily across categories, with mixed quality resulting in “erratic” movements.
Original content
The Eastern States Trade Lamb Indicator (ESTLI) dropped 80¢ (14%) over the week, ending at 507¢/kg cwt. Dynamics were similar in the West with a 77¢ drop in the WA Trade Lamb Indicator resulting in an average price of 394¢/kg cwt.Heavy lambs also trended lower but not to the same degree as trade lambs. The National Heavy Lamb Indicator dropped 8% or 50¢ over the week to 602¢/kg cwt. NSW was the major driver, with heavy lamb prices falling 67¢ to 582¢. Light lambs lost 61¢ to end the week at 413¢/kg cwt.The store lamb market didn’t fare any better. The National Restocker Lamb indicator hit a new low of 395¢/kg cwt after dropping 86¢ (-18%) over the week. 2013 was the last time the Restocker Indicator was at these levels. The spread between restocker lambs in Victoria and NSW is wide, with Victorian pricing restockers at 477¢ this week compared to 395¢ in NSW.Sheep throughput at saleyards remains very volatile, and the same could be said for price. The National Mutton Indicator fell ...
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