W34: Mutton & Lamb Update

In W34 in the lamb and mutton landscape, Australian lamb yardings decreased by 9% week-on-week (WoW) to 149.39 thousand heads, the lowest yarding in six weeks. This decline can be attributed to the fortnightly schedules of some saleyards in New South Wales like Cootamundra, Deniliquin, Griffith, Guyra, and Inverell. The National Livestock Reporting Service (NLRS) indicates that the reduction in yardings was accompanied by improved quality, driven by increasing indicator values. Lamb yardings fulfilling the heavy lamb indicator specification dropped by 17.69 thousand heads to 20.66 thousand heads. On the contrary, the indicator rose by USD 0.06 to USD 3.04 per kilogram (kg) carcass weight (cwt). However, notable price variations were observed among saleyards. The heavy lamb indicator in Dubbo increased by USD 0.17 to USD 3.21/kg cwt, while slightly decreasing by USD 0.02 to USD 2.99/kg cwt in Bendigo. Varying levels of finish and regional disparities continued to influence price fluctuations.

Australian lamb slaughter increased by 15.3 thousand heads to 436.83 thousand heads in W34. Conversely, sheep slaughter declined by 27.12 thousand heads to 134.63 thousand heads. W34's lamb slaughter marks the second-highest August volume on record and ranks as the fourth-largest weekly slaughter so far in 2023.

Lastly, while sheep prices at most outlets remained steady in W34 compared to W33 in the Irish market, a few quoted slightly higher prices. The Irish Cattle and Sheep Farmers’ Association (ICSA) noted a positive trend, with some outlets trading at USD 7.03/kg for a spring lamb. On the other hand, Kildare Chilling continued not providing a quote for spring lambs since Jul-23. Irish Country Meats (ICM) maintained its offering at USD 6.49/kg plus a USD 0.22 quality assurance (QA) bonus for a spring lamb up to a 22 kg carcass weight (cwt), consistent with W33. Other outlets offered USD 6.54/kg plus a USD 0.16/kg QA bonus for a spring lamb. ICM's price for a cull ewe remained unchanged at USD 3.14/kg for cwt up to 45 kg. Other outlets offered USD 2.92/kg for a cull ewe. Additionally, ICM quoted USD 5.19/kg plus a USD 0.22 QA bonus up to 23 kg for hoggets.