Sheep and lamb to strengthen
AUSTRALIA’S sheep and lamb markets are predicted to strengthen further with near record prices, as production and slaughter forecasts are revised lower for 2017, according to Meat and Livestock Australia’s quarterly update of its 2017 Australian Sheep Industry Projections.
MLA’s manager of market information services, Ben Thomas, said the market was being influenced by a combination of factors, including extremely strong producer intent to retain ewes for flock rebuilding, the current strength of the wool market and low grain prices.
“Lamb slaughter is expected to contract further this year, revised down a further 500,000 head from original predictions to 21.5 million head for 2017 and down 1.5 million head, or 7%, on the 2016 record,” Mr Thomas said.
“In terms of availability throughout the year, on the ground reports suggest a reasonably strong supply through to the end of April, before numbers will become tight until the new spring flush.
“Lamb production is expected to fall 6% year-on-year in 2017 to 481,600 tonnes carcase weight (cwt), before rebounding back above the 500,000 tonnes mark in 2019.”
See mla.com.au for more information.