Spring flush takes effect

Spring flush takes effect


Sheep
Domestic slaughter lambs sold from $125 to $138 at Bendigo on Monday, with the pick of the second-cross young lambs in the 22-24kg bracket averaging around $133/head.

Domestic slaughter lambs sold from $125 to $138 at Bendigo on Monday, with the pick of the second-cross young lambs in the 22-24kg bracket averaging around $133/head.

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THE Eastern States Trade Lamb Indicator (ESTLI) remains 93 cents higher year-on-year despite falling last week following a swell of supply.

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THE Eastern States Trade Lamb Indicator (ESTLI) remains 93 cents higher year-on-year despite falling last week following a swell of supply.

Earlier this week the ESTLI fell to 554 cents per kilogram, down by about 45c on the month’s opening, due to a flush of lamb supply at the saleyards.

National lamb throughput jumped nearly 68pc last week to 195,993, following a short sale week in NSW and transport logistics getting stock to market in South Australia due to wild weather.

The most dramatic influx of young lamb numbers was in NSW, which totalled 72738 head, up 16pc year-on-year.

In Victoria, young lambs numbers jumped 14pc to 57126, while SA supply climbed to 24252.

Meat and Livestock Australia market analyst Stephanie Williams said fine and dry conditions bought out more young lambs last week across all eastern states.

“More young lambs were penned across the majority of markets,” Ms Williams said.

Lamb yardings are down 19.2pc for the past four weeks compared to the same period last year, which Ms Williams attributed to ongoing wet weather impacting the transportation of stock.

“Also the ability for producers to hold onto lambs for better finishing is a far greater possibility than this time last year when it was dry,” she said.

Ms Williams said supply may plateau in NSW, however it was expected Victorian lamb yardings to rise next month with Hamilton, in Victoria’s Western District, anticipated to receive a flush of supply in November.

Similarly to the ESTLI market reaction, the National Mutton Indicator responded to increased yardings, falling from 411c to 381c last week.  

Total sheep yardings rose to 62536 from 25462 head last week to the week prior.

All states showed slight increases with NSW receiving the largest throughput with 37593 head which was up from 12757 and Victoria the second largest increase at 19111, up from 8436 head.

“The Spring flush is underway, indicating that prices should continue to soften into next week,” Mecardo market analyst Katherine Bain said.

“The mutton price continues to hold up well in comparison to this time last season, due to the favourable weather, and therefore may continue to ease at a slower rate.”​ 

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