New seasons lambs impacting market

SELX-Sheep-13-Sep-HR-4407

The increase has been predominantly driven by NSW saleyards, accounting for 58% of total, with Forbes, Yass, Corowa and Wagga all yarding over 15,000 lambs.

The lamb market is beginning to see the impacts of new season lambs entering the market in greater numbers, with Tuesday’s Eastern States Trade Lamb Indicator (ESTLI) decreasing 25¢ on the week prior.

A downward trend is not surprising, considering the yarding last week was the highest seen so far in 2019.

Last week’s national lamb yarding was up 36% on a fortnight ago to 244,000 head. This is the largest yarding since December last year, when the Victorian lamb season reached a yearly peak.

The increase has been predominantly driven by NSW saleyards, accounting for 58% of total, with Forbes, Yass, Corowa and Wagga all yarding over 15,000 lambs.

While supply has hit a 2019 high, it is not uncommon for yardings to increase at this time of year.

Generally, yardings increase by 14% from the yearly average during October and by 29% in November.

This seasonal increase through late spring generally coincides with a drop in prices, as buyers are well covered heading towards the new year.

Over a five year period, the ESTLI has dropped an average of 4% from September/October to November/December period.

If the ESTLI were to see a similar trend over the final two months of the year, prices would average around 770¢/kg carcase weight. However, in the short-term prices could be pushed lower, as the Victorian lamb supply is anticipated to increase from current levels.

https://www.mla.com.au/prices-markets/market-news/lamb-prices-ease-with-spring-flush-in-full-swing/

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