The AWEX Eastern Market Indicator (EMI) rose 19c on Tuesday and then fell 4c on Wednesday, overall closing out the week up 15c at 1,350c/kg, or 978c/kg in US dollar terms.
Composite and other breed lambs registered a 29% increase in supplies from last week, offering a total of 1,127 head. Increased numbers were matched with increased prices, with the category increasing by $76 from last week, to average $264/head.
The week saw the emergence of some significant Italian buying interest on the more stylish lots. After a 12-18 month pause in Italy’s purchasing, this may be a significant signal.
Following a wet and magnificent winter, and a proven emerging issue of growing blowfly resistance to chemical preventatives across NSW, the 2021 Spring and Summer are shaping up to be a challenging flystrike season.
This week is the final of the annual three-week selling recess at physical selling centres and with an anticipated offering of approximately 57,000 bales for the first week back, it will be interesting to see if this supply is met with the strong demand seen prior to the recess.