MEAT & Livestock Australia’s National Livestock Reporting Service is now including sheep and lambs sold from $1 a head in its market reports as producers continue to realise historically low prices in saleyards.
From Monday 18 September, the NLRS will report sheep and lambs sold from $1/head in all market reports, changing from the previous $10/head lower limit.
The NLRS said this would align with current market conditions and ensure the service continues to deliver accurate market reporting and coverage of the market conditions.
MLA’s market information manager Stephen Bignell said there were not many sheep and lambs sold in the $1-$10/head band this week and he did not expect the parameter reporting change would have a material impact on indicators, at this stage.
It is expected that the most affected indicators might be light and restocker Merino lambs, and mutton, but Mr Bignell said the numbers of sheep/rams and lambs selling for less than $10 are still very low and have been mostly making $8-$10.
“Most of the sales under $10 have been going for around $8.
“We haven’t seen a material change in the indicators at this point, but as this continues we are actually comparing like-to-like week-on-week.”
Up to this point, Mr Bignell said NLRS reporters were commenting on instances of sheep and lamb sales under $10, but now actual numbers of $1-$10 sales will be recorded.