Lamb prices faltered when some markets buckled under bigger numbers late last week.
All eastern state indicators were back slightly at the close of trade Thursday. Trade lambs slipped 1c to sit at 591c, while heavy lambs eased 2c to hold just above 600c/kg cwt.
While rates have slipped marginally, Meat and Livestock Australia report that lamb prices have averaged slightly lower than in 2015, with all indicators down on year-ago levels. Surprisingly this was despite the late surge in rates for the month of May.
This was evident on Thursday at Wagga, when bigger numbers of almost 42,000 lambs and 10,750 sheep, saw a price correction across the board. Corrections were not as dramatic for light processing lambs, with rates touching firm to a $1 cheaper.
The National Livestock Reporting Service (NLRS) described the market for trade and heavy lambs as plainer, while agents said major domestic processors had enough lambs to buy privately, taking the pressure off sourcing as many lambs from the sale yards.
Trade lambs sold $6 cheaper averaging 602c/kg cwt, fetching $116-$160. Heavy lambs also sold at lower rates, with falls of $6 equating to a drop of 18c/kg cwt. Other than a dip in quality, the stronger Australian dollar made its presence felt. Lamb prices opened the week on shaky ground, with most lamb markets reporting sales a few dollars cheaper.
Lamb supplies increased at Bendigo on Tuesday, with more numbers of lighter weight stock.
The best of the results were achieved for some pens of extra heavy lambs, which sold from $162-$212.
The NLRS said heavy lambs, 24-26kg, gained solid support from domestic processors who were chasing better carcass finish and weight.
The quality and the quantity of trade lambs has dropped away, with the best of the trades selling just above 600c but the average over the sale was 585c-590c/kg cwt.
Despite a small offering of 4,160 sheep, prices were cheaper. Heavy mutton fell $9-$23 making from $106-$135. Competition for trade and light weight ewes was solid, fetching $52-$128 to average 380c/kg cwt.
At Corowa, NSW, all weights and grades were $4-$6 cheaper while at Dubbo the reduced yarding helped lift rates.
The section of the market that showed the biggest increase was in the north at Dubbo where trade lambs lifted up to $5. The trade market recorded a top price of $164 for the limited offering.
Heavy lamb rates also made moderate gains of $4 to reach a top price of $210, with the general run of extra heavy lambs averaging 636c/kg cwt.
Lamb numbers at Ballarat were similar, with agents yarding about 24,600 lambs and 4,705 sheep.
Trade and heavy lamb quality was reported to be very good at the top end, with several drafts of extra heavy lambs selling above $200, to record a top price of $224.
Heavy lambs consistently made over $168 to average 598c/kg cwt.
Heavy trade lambs kicked again and 22kg lambs felt the benefits, selling $11 higher to average 637c/kg. Heavy trade lambs were unchanged fetching $144-$165.
Pens of well-bred secondary lambs that sold back to the paddock made from $74-$120. Light lambs to the processors showed a drop of $6-$11. Anything lacking cover or in small pen lots were discounted.