LAMB prices slumped $12 to $25 by the end of trade last week, with old lambs hardest hit.
The stress further north of deteriorating paddock feed and a combination of weeks without rain, low surface water levels and plenty of numbers have pushed prices down dramatically.
There were nearly 123,000 lambs offered at the major prime markets last week – 20 per cent higher week-on-week, according to Meat & Livestock Australia.
At the conclusion of markets, the eastern States lamb indicator had retracted 18 cents a kilogram to average 475c/kg carcase weight while heavy lambs slipped had 25c/kg to 481c/kg cwt.
The one positive trend to the price slump was restocker lambs, which gained a massive 91c/kg to settle at 499c/kg cwt.
After a patchy week in the south, prices were hauled back $10-$13 for new-season lambs at Wagga Wagga and Griffith, NSW.
Hopefully the current situation is short-lived, with two major processors reportedly clearing the remainder of contract lambs.
The like of JBS Swift and Thomas Foods International will now be able to handle lambs once again from the auction system.
From all reports, agents are expecting the market to regain its price floor fairly quickly once all players are back in the saleyards and operating fully.
The reduced numbers of heavy old lambs at Wagga could not prevent the price falls, nor could an almost-full field of buyers who all made purchases.
Heavy lambs slid by $17-$26 and sold at $119-$152.
Young lamb supplies at Bendigo jumped markedly this week, with the National Livestock Reporting Service (NLRS) noting half the yarding was made up of new-season lambs from the Mallee and Echuca regions.
The effects of the cold conditions and poor feed supplies did have an impact on some pens of new-season lambs which were drier in the skin and lacked finish.
However, at the market's top end, heavyweight young lambs made to $143 for a pen estimated to weigh 27kg cwt.
Trade lambs generally made $98-$138.60, av 541c/kg cwt.
Meanwhile, old lambs in longer skins didn't win any friends, with prices falling $5-$9, with plenty of sales under 450c/kg cwt.
Well-finished second-cross old trade lambs lifted in value, averaging 510-520c/kg cwt.
A mixture of off-shears to full-wool lines was combined through the mutton sale.
Merinos in a good jacket topped at $102 while the general run of trade-weight sheep made $66-$88, av 310-330c/kg cwt.
Ballarat's smaller market on Tuesday of just 3601 lambs and 2216 sheep delivered no surprises for producers, with prices generally softer.
There were, however, odd pens of trade lambs that managed to equal last week's rates.
Most trade lambs were quoted as averaging 430-520c/kg cwt, reaching a top of $123.
The better-quality heavy lambs sold at $120-$128, av 480c/kg cwt.
Killable light lambs in two- and three-score condition made $71-$90.
There were some restocking orders in place and the better-bred lambs to turn out sold at $80-$116.
Some consignments of lighter-weight wethers were close to last week's values and made $65-$76.
There was no continuity in price for ewe mutton, with trade weights averaging 320c/kg cwt.
Heavy crossbred ewes made $75-$88.
