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Friday, August 21, 2015

Supply trends and chart analysis suggest mild downturn for the ESTLI

By Augusto Semmelroth  |  Source: MLA's NLRS

Lamb markets continue to buck their late-winter downtrend despite the sharp increase in slaughter rates in recent weeks. While eastern states lamb supplies are now back in line with 2014 levels, the Eastern States Trade Lamb Indicator (ESTLI) remains 100¢, or 20%, above year-ago levels, at 582¢/kg cwt. Price downside is imminent, but the spring low will likely be higher this time.

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