THE recent rain across much of NSW and Victoria has brought with it a new sense of optimism, when last week secondary lambs finished on a positive note assisted by restored restocker confidence.
At the conclusion of Thursday markets, the eastern states restocker lamb indicator kicked 20c/kg to 555c/kg.
Vendors were well rewarded at Wagga last Thursday, when buyers threw caution to the wind purchasing all types of secondary lambs. Recent rain spurred buyers from Goulburn and Yass who put a floor in rates for plainer nondescript lambs. Lambs lacking condition lifted $19 averaging $79.80.per head, while the well-bred lighter weight shorn drafts averaged $90.80.
Trade lambs averaged 573c/kg cwt, which equated to the better finished grain fed lambs holding firm. There were signs at the market that domestic processors, for the moment, are not prepared to compete for grass finished trade drafts, as lambs have started to chase the green pick which is affecting quality. Heavy lambs 24-26kg consistently sold $3-$4 higher, making from $148-$173. Lambs weighing above 30kg cwt were keenly sought by a larger field of buyers, which pushed prices $6 higher to average 532c/kg cwt.
In opening sales this week hikes of up to $10 and more have lifted lamb prices well above rates of last year.
At Dubbo on Monday, the National Livestock Reporting Service (NLRS) said numbers dropped by more than 6,000, with producers still busy on tractors. Rates again strengthened, as limited numbers drove rates higher. Stronger demand for trade lambs pushed prices to $156, with plenty of sales above 600c/kg cwt. Heavy export lambs continued to make solid gains, exceeding livestock agents’ expectations, when rates jumped $13.
A significant dip in numbers at Bendigo on Monday set the scene for a dearer market. Strong support from store buyers kept light weight lambs firm to a few dollars dearer. Lambs returning to the paddock settled into a range of $72-$107.60. The scarcity of trade lambs lifted rates $5 for top quality pens to average 575c/kg cwt, with choice grain fed lots selling above 600c/kg cwt. The seasonal shortage of heavy lambs showed its hand, when prices jumped $7-$11.
Numbers were down but prices were up at Ballarat lamb market on Tuesday, where a line of 196 heavy lambs reached $221. One onlooker said almost one full lane of heavy lambs sold above $200 in a red hot sale. Heavy lambs, above 30kg cwt, averaged 544c/kg cwt. The domestic trade dynamics have shifted in favour of the auction system; with major supermarkets now back in the game and clearly driving competition on all choice pens of 22-25kg lambs.