The Heavy Lamb Indicator closed the week at 1159c/kg, which represents a near $1/kg rise in the past four weeks. Heavy lambs broke a per head record at Forbes this week when a pen sold for $454, but the National Livestock Reporting Service quoted lambs as not well finished at a number of yards and therefore not reaching the higher prices, and increasing competition for good quality stock.
Nationally trade lambs finished at 1195c/kg, an increase of 35c/kg for the week. The Eastern States price was higher again, at 1209c/kg, with Wagga Wagga and Forbes yarding nearly half of the trade lamb throughput for the week and averaging 1259c/kg and 1228c/kg. NLRS reported supermarkets and processors were in strong competition with each other at Wagga, but some were only actively buying shorn lambs, while at Forbes, new season lambs sold from $232 to $312/head.
The mutton price held fairly firm nationally at 690c/kg, putting it at about 30% above the five-year-average. Again, a majority of saleyard throughput for sheep came from NSW, and the average for that state was higher at 704c/kg. Mutton and Merino Lambs were the only two categories to see an increase in numbers this week, with an extra 5000 sheep going through the indicator.
Restocker and light lambs had the most significant contraction in supply and rose 5c/kg and 7c/kg, respectively. Overall, lamb yardings dropped by about 20,000 head from the previous week, while sheep were back just 2000 head. National slaughter fell by more than 50,000 head and now trends significantly below year-ago levels for the first time in 2025, nearly back in the five-year-average zone.