The season has dictated that the difficulty of growing a lamb to slaughter weight still warrants a premium, although in the last 12 months trade lambs have averaged just 26¢ more than restockers on a per/kg basis.
On Tuesday this week (27 August), the restocker indicator rose 31¢ to 856¢/kg cwt, 21¢ above year-ago levels.
It is also a 47¢ above the trade lamb indicator, pushed forward by some strong sales in southern NSW and an increase in demand as for the new season lambs that are entering the market.
Lamb yardings have continued to reduce, the average weekly yarding in August has been 152,500 head, back from 168,500 in July and 205,500 in June.
While there is often a lag period between the end of last season’s lambs and the beginning of the new season, the supply shortage has been exaggerated this year, August averages are down 15% on the weekly yardings from a year ago.