Strong prices attract volume
The Snapshot
- Higher than average east coast lamb yarding levels have seen the ESTLI ease 7% since the start of the year to close last week at 827 c/kg cwt.
- East coast lamb yarding levels are running 16% above the five-year seasonal pattern for this time in the year.
- Victorian and South Australian lamb yarding volumes are both sitting 33% above their respective five-year average trend.
- While NSW lamb numbers are just 1% ahead of the five-year average trend they are still 17% higher than during the same time last season.
The Detail
Weekly east coast lamb throughput levels have started 2021 ahead of the average seasonal pattern and much stronger than during 2020. The Eastern States Trade Lamb Indicator (ESTLI) opened the year at 888 c/kg cwt, but has eased 7% to close at 827c/kg cwt last week, as lamb throughput volumes have started to climb.
East coast lamb throughput reached 227,297 head last week, representing levels that are 16% ahead of the average trend for this time in the year and 29% above the volumes seen during this week in 2020.
Victorian lamb yarding levels are underpinning the strong east coast throughput figures with weekly yarding numbers reaching 97,986 last week, 33% above the five-year average seasonal pattern and 39% more than the same week in 2020.
Relatively strong NSW lamb yarding levels have contributed to the broader east cost numbers with 105,551 head recorded last week. While this level is only 1% ahead of the five-year average seasonal pattern it is 17% above the volumes presented at sale yards in NSW this time last year.
South Australian lamb throughput volumes are mirroring the Victorian strength, opening the season 33% above the five-year average trend and 46% higher than during the same time period in 2020.