Sheep and lamb market continues impressive run

SELX-Sheep-11-OctTightening supply in New South Wales and South Australia saw lamb and sheep throughput decline last week, albeit total eastern states yardings were up 4% year-on-year.

This is largely due to a sharp increase in Victorian supply, which more than doubled on year ago levels, to offset reduced numbers seen in New South Wales.

The sheep and lamb market has continued to gain traction, in particular in Victoria, with Ballarat continuing its impressive price run this week – despite solid throughput and growing uncertainty as to the impact of coronavirus on demand.

Lamb yardings for the week ending 6 March:

  • New South Wales totalled 101,004 head, down 6% year-on-year
  • Victoria totalled 85,619 head, up 136% year-on-year
  • South Australia totalled 18,420 head, up 34% year-on-year

Sheep yardings for the week ending 6 March:

  • New South Wales totalled head, 34,568 down 44% year-on-year
  • Victoria totalled 38,173 head, up 53% year-on-year
  • South Australia totalled 4,648 head, remaining steady year-on-year

Slaughter

For the week ending 6 March, eastern states lamb slaughter totalled 315,100 head, down 20% year-on-year.

This was largely driven by a decline in New South Wales slaughter, which fell 20% year-on-year.

Victoria followed similar trends falling 14%, albeit maintaining the highest slaughter numbers for the year to date. South Australia tracked 20% lower compared to year ago levels, at 45,500 head.

Sheep slaughter also declined 44% on year ago levels, to 99,000 head. New South Wales and Victoria have seen large declines in sheep slaughter this year, down 38% to 39,000 head and down 27% to 46,000 head, respectively year-on-year.

https://www.mla.com.au/prices-markets/market-news/lamb-prices-continue-to-climb/

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