The return to a full trading week saw lamb supply, reported by MLA, increase 25% week-on-week, to 191,981 head. With hot and dry conditions forecast to continue across the eastern states, and direct-to-works supplies reportedly sufficient, prices headed south this week, with some categories falling below year-ago levels.
Restockers were able to capitalise on the lower saleyard prices – mainly at NSW centres where some good feed can be found. While in Victoria, restocker demand remains limited as the season continues to deteriorate.
Last week, eastern states weekly lamb slaughter was the highest it’s been since the beginning of May, at 376,758 head, despite the public holiday in some states. This was attributed to Victorian kill levels lifting to 19,733 head – the highest level since mid-April.
At the conclusion of Thursday’s markets:
