Last week's sales saw ewe and wether yardings operating 60 per cent and 97pc higher in year-to-date terms, compared to 2022 volumes.
This equates to an extra 48,956 head of mutton through the saleyards.
Slaughter volumes were also on the up, reaching a two year high with 178,929 sheep processed in total for east and west over the week.
MLA reports sustained demand for heavy lambs ensured prices for the improved indicator finished last week at 797 cents, operating 37c/kilogram carcase weight (cwt) above 2022 levels.
Weight continues to dictate price performance, with heavier lines of lambs supporting higher prices.
Key selling centres of Dubbo, Wagga Wagga, Forbes and CVLX Ballarat all operated at strong premiums to the national price.
The market didn't prove as positive in SA with the SA Livestock Exchange accounting for the cheapest heavy lambs this week, with prices 104 cents/kg cwt below the national average.
Young lamb yardings have begun to decline in recent weeks from their yearly high at the end of January, indicating most lambs now offered are considered the older cohort and are over five months of age.
Lamb yardings (five months or older) are operating 44pc or 44,000 head higher in year-to-date terms compared to 2022.
This has not significantly affected lamb prices, particularly heavy, export-orientated animals.
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At Bendigo, market reporter, Jenny Kelly said there was a slight drop in lamb supply, while sheep numbers were cut to just 3200 head following the cheaper rates of the past fortnight.
"Full buying field of processors and competition was keener across all categories of stock," Ms Kelly said.
"The biggest export lambs were similar to a few dollars dearer, but underneath this was rises of $8 to $15/head for most other grades.
"The hot spot of the market was for nicely weighted 23-28kg cwt lambs.
"Some of the plainer lambs, which were being discounted on fat cover and presentation, recorded the biggest price gains in this sale as buyers were forced to drop back onto these to fill orders and also to shandy-down their overall c/kg cost."
Export weighted crossbred lambs over 30kg cwt from $240 to a top of $275.
Strong bidding for heavy 26-30kg crossbred lambs at $220 to $256, the best crossbreds at a ballpark 840c/kg cwt but some plainer first-cross bodies still under 800c/kg.
Quality heavy trade lambs 24-26kg were well supported at $196 to $218 amid limited numbers.
General run of trades $160 to $190 while small store lambs were $110 to $130 with not a lot of good lines to suit restockers.
Rates for sheep bounced back over 300c/kg cwt again; big crossbred ewes made $96 to $136 and best trade and heavy Merinos in a skin $103 to $123.
Plainer light and trade ewes $50 to $85.
Mutton prices remain resilient despite supply strength
Despite higher offerings through the yards and slaughter continuing its upward trend, the improved mutton indicator price strengthened this week, lifting 12.7c or 4pc to finish the week at 329.8c/kg cwt.
Comparing month on month, MLA says this is an improvement of 22.2c or 7pc.
Although the indicator has seen volatility in recent weeks, the fundamental demand for mutton remains strong despite higher supply and interest in the export markets which has meant prices are reacting accordingly.
Store lamb prices hit a low for February at the start of last week, but buyers became more active as the week progressed and prices managed to improve.
The Eastern States Trade Lamb Indicator (ESTLI) lost 7c over the week due to weaker competition, finishing Thursday at 740/kg cwt.
In the west, trade lambs have been trending weaker since January.
This has continued with the WA trade lamb indicator dropping another 16c to 573/kg cwt, which is 264c (-31pc) lower than the same time last year.
Heavies are still holding steady, with the National Heavy lamb Indicator moving 3c higher week on week, to settle at 797/kg cwt, up 37c (5pc) year on year.
Mercado analysts report that the restocker market moved similarly in both NSW and Vic, with the indicators lifting across the week.
The National Restocker Lamb Indicator gained 31c week on week to 648/kg cwt as the young lamb supply tightened.
Merino lambs also found more strength with the indicator lifting 43c to 653/kg cwt.
This is 54c below where the National Merino Lamb Indicator was sitting at this time last year.
Light lambs also gained 21c to 648/kg cwt, which is 162c (-20pc) lower year on year.
After last week's steep price fall, mutton ended 13c higher last week at 330c/kg cwt.
This is still within the lower end of the range we've seen mutton priced since the start of this year.
Lamb and sheep throughput were fairly steady in the previous two weeks, with around 176000 lambs and 122000 sheep moving through saleyards.
