Despite significantly higher out put this week, particularly in Victoria, all national sheep and lamb indicators increased considerably from the previous week, with the widespread, steady falls across parts of southern NSW and most of Victoria enticing restocker interest.
Nationally, light lambs gained 17¢, to finish the week on 382¢/kg cwt, while trade lambs jumped 12¢, closing Thursday above the 400¢ mark again, at 410¢/kg cwt. The national mutton indicator also made considerable ground, increasing 24¢, to finish the week strongly, at 229¢/kg cwt.
Driven by the high slaughter rates throughout November, as well as strong demand from the US, China and the Middle East, lamb exports reached the highest November volume on record, at 19,792 tonnes swt. Similarly, mutton exports were also very high, at 17,181 tonnes swt, which was the highest November volume since 2006.
In further good news for exports, the A$ continued to ease this week, dropping another 1¢, to finish Thursday on 90US¢.
Beef and veal exports during November also increased considerably, year-on-year, with the strong demand from most markets keeping pace with high slaughter rates. Shipments for the month totalled 99,802 tonnes swt, with volumes to Korea, the US and China each up year-on-year, while Japan remained sluggish.
Despite the EYCI making strong gains in the previous week on the back of scattered showers in the north and coastal regions, the rainfall this week was not enough to continue the climb, as the EYCI lost 4.75¢, to finish Thursday on 320.75¢/kg cwt.