Conditions impact sheep supply
UNFAVOURABLE seasonal conditions combined with the planned retention of more ewe lambs for flock rebuilding has prompted a number of revisions to the Meat & Livestock Australia’s 2017 Australian Sheep Industry Projections mid-year update.
Despite a strong performance for the first half of the year due to limited stock supplies, the first week of July saw the national trade lamb indicator lose 93 cents from where it started in June, to 579c/kg carcase weight (cwt).
Since then, it bounced back somewhat to 630c/kg cwt mid-July, before finishing the month averaging 580c/kg cwt.
A dry winter across many key production areas and poor seasonal outlook to October will now create further uncertainty for the sheep and lamb market.
MLA’s Ben Thomas said while prices were still strong the market would largely hinge on feed availability coming into spring, along with the extent to which processing capacity can absorb the eventual recovery in supplies.
To read the 2017 report visit www.mla.com.au.
SHEEP MARKET: TopX auctioneers taking bids at Wednesday’s weekly sheep sale at the Warwick saleyards.