Lamb throughput exceeded 299k head this week to the yards and, at this pivotal interval of the yr, was welcomed by patrons even when they didn’t break the scales on the load entrance. Saleyard reviews confirmed that heavy lambs do stay the decide of the yards if out there and have been nonetheless fetching over $11/kg cwt in Wagga, as provide was dominated by lighter lambs once more.
The Nationwide Mutton Indicator (NMI) misplaced 39¢ to 726¢/kg cwt because the double whammy of a raise in turn-off sheep numbers and extra commerce lambs to concentrate on impacted costs. Equally, the Nationwide Restocker Lamb Indicator misplaced 33¢ to 1063¢/kg cwt because the summer season warmth begins to kick in and focus shifts to holding inventory readily available watered. The Japanese States Commerce Lamb Indicator (ESTLI) tracked sideways at 1077¢/kg cwt.
The most recent ABARES report supplied an replace on the outlook for 2026, and the forecast means that lamb and mutton manufacturing will fall subsequent yr as a hangover of decrease lamb marking and better anticipated ewe retention subsequent season (learn extra right here). In idea, this might be supportive of pricing at present ranges of export demand, however lots should play out when it comes to seasonal circumstances and whether or not costs at this stage might be sustainable for processors earlier than we advise costs are going to rocket increased.
Mixed lamb and sheep slaughter once more eclipsed 600k head final week at a nationwide stage, which is 21% increased than what we noticed firstly of spring however is 17% decrease than the identical week final yr. Provide has improved slowly as spring has come and gone, however the numbers are nonetheless properly again on the place we have been final yr, which isn’t ideally suited for the present stage of capability, significantly when the lambs introduced on the yards stay lighter and drier than patrons would like.
