What the flush

The Detail

Last week Thomas Foods International placed some generous prices on forward lamb contracts into their Tamworth plant and were quickly all booked out, according to the word on the street. It was any wonder with offers of 900 c/kg cwt through to early next year. It’s uncertain if there was a general rush to over-the-hooks turnoff last week but the sale yard throughput numbers highlighted some uncharacteristically low volumes.

East coast lamb yarding levels dropped by 50,000 odd head on the previous week, declining by 28% to see 128,095 presented for sale for the week ending 8th October. This represents weekly throughput volumes that are around 21% under the five-year seasonal average for this week in the season.

Granted it was a shortened week in NSW due to the rugby league finals. As the seasonal average pattern demonstrates it is not uncommon to see a dip in lamb throughput during this time of the year in NSW. Indeed, the 89,570 head reported came in just 3% above the average seasonal pattern for this time in the year. This time last year NSW lamb yarding levels dropped by 22% from the previous week and this year the magnitude of the weekly fall was similar, posting a 23% decline on the week prior.

The very uncharacteristic move in yarding came from Victoria. Just 21,348 lambs were presented in Victoria for the week ending 8th October, which is a 44% decline on the prior week’s figures. Lamb yarding levels in Victoria at this time of the year are usually nearer to 55,000 head so these are levels that are more than 60% under the usual pattern and representative of volumes normally seen in the depths of winter.

Low saleyard volumes weren’t just reserved for lambs. East coast sheep throughput numbers eased by 39% on the previous week to see 41,535 head reported at the saleyard. Current sheep yarding levels are the lowest seen since late winter and are running 37% below the average seasonal pattern that could be anticipated for this time in the season, according to the five-year trend.

Mirroring the pattern shown by lamb yardings the NSW sheep yarding declined by 39% for the week ending 8th October. The average seasonal pattern for NSW sheep yarding also shows there is a drop associated with the shorter trading week due to the grand final holiday. The 23,900 head of sheep seen this year wasn’t far off the 22,443 head noted for the same week in 2020.

Weekly Victorian sheep yarding levels demonstrated an unusual decline, dropping 41% to 12,116 head, which is at levels that is 46% under the normal seasonal pattern for this time in the year.