The AWEX Eastern Market Indicator made strong gains last week, increasing 17c on Tuesday and a further 6c on Wednesday to close out the week at 1,343c/kg or 1,040c in US dollar terms.
Quality feed in paddocks has supported ewe condition and preg scanning percentages, leading SIL Merino ewes to take the market by storm last week, with listings making up almost 20% of the weekly offering and prices averaging $47/head higher.
A new Facebook group has been established by Animal Health Australia (AHA) to provide greater engagement with sheepmeat and wool growers on biosecurity and animal health issues.
The national wool offering remained steady last week, offering 43,940 bales at national selling centres, rising steadily from the 41,857 sold the previous week.
After several weeks of subdued clearance rates, demand bounced for ewes with LAF this week, with a 93% clearance rate for the 1,181 head offered driving a $31 increase on last week, to average $296/head.
There was a reduced offering at physical selling centres, falling from 54,899 bales offered the previous week to 41,857 bales (42,949 estimated) last week.
The AWEX Eastern Market Indicator (EMI) recorded an 8c decrease on both Tuesday and Wednesday before recovering 1c on Thursday to finish at 1,306c/kg, or 1,008c/kg in US dollar terms.
In respect to prices, shedding lines finished the week up $13/head, at $239, while Merino wether lambs were up $1 on last week, at $141, while crossbreds were steady at $166/head.
The online market for sheep and lambs was slightly softer last week, as some good rain through the south east reportedly refreshed buyer confidence, but also renewed seller expectations.
With the first substantial rain since late March forecast for next week, restocker demand may rebound, with confidence also boosted by this week’s favorable three-month rainfall outlook from the Bureau of Meteorology.