Supplies also remain higher for the year, with lamb yardings so far in March surpassing year-ago levels by 2%, at 717,551 head.
So far this week supplies are edging higher, particularly in the south, with Bendigo reporting an improvement in quality due to lambs coming off grain and being properly finished.
Over-the-hook lamb indicators across Victoria also lifted around 5¢ to 10¢ this week across all lamb categories, with trade weight lamb rates averaging 647¢/kg cwt. Furthermore, NSW also recorded a 10¢ rise across the board, with trade weights averaging 630¢/kg cwt.
At the conclusion of yesterday’s markets:
- The eastern states restocker lamb indicator was 38¢ higher week-on-week, at 720¢/kg cwt – the highest level since April 2011
- Merino lambs gained 7¢ to average 575¢, while light lambs lifted 13¢ to average 641¢/kg cwt
- The Eastern States Trade Lamb Indicator (ESTLI) increased 16¢ to 644¢/kg cwt
- The heavy lamb indicator was 19¢ higher on 643¢/kg