00:00This week, episode 3, has been looking at sheep and lamb slaughter indexes.
00:04If we first look at mutton, we know from the Yarding's report on a couple of weeks back
00:08that mutton has been tightening up at the sallyard.
00:10That's starting to flow through now into tightening at the processor level,
00:14particularly in the south, so South Australia, Victoria,
00:17and even it's New South Wales, quite a bit of tightening for sheep index slaughter levels.
00:22On the mutton side, what we're seeing too, and we've put on this just recently,
00:26in our export space, the mutton exports are dropping away, particularly in China,
00:31so we've had a very slow start to the season for mutton exports to China.
00:35The high prices are probably paying a little bit of a price there
00:38when it comes to those export demand into prices in markets like China,
00:41and that's now flowing through to lower volumes for sheep slaughter at least
00:45and the processing side.
00:47Moving across to lamb, that market's been tightening.
00:49We reported on quite a bit of tightening in South Australia and Victoria
00:52for lamb yardings a couple of weeks back, and that's still occurring,
00:55and we're seeing tighter slaughter numbers as well now flowing through in the south.
01:01The difference there is that New South Wales had higher lamb yardings a few weeks back,
01:06and we're still seeing some reasonably good volumes
01:09when it comes to lamb slaughter index in around the 70% level,
01:12so reasonable capacity for lamb slaughter still in New South Wales.
01:17But as we head further into autumn, obviously prices could continue to climb.
01:22There's a bit of a worry about the MENA region, that Middle Eastern region,
01:26that might still have access issues.
01:28That might take some of the shine off price climbs,
01:30but the broader supply and demand picture
01:32is probably still going to favour the producer for the moment.
01:35And that's it for sheep and lamb slaughter update.
01:38I'll see you when you're on the one.
01:39I'll see you when you're on the one.
01:40Good stuff.
01:41Bye.
01:41Bye.
01:41Bye.
01:41You
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