Trade lamb prices are gaining traction and the highlight seems to be quality slaughter lambs, where prices have pushed over 700c/kg cwt.
Last week’s shorter trading timetable did impact on supply, with eastern states lamb yardings, according to Meat and Livestock Australia, down three per cent week on week.
The eastern states trade lamb indicator finished the week at 610c up 11c, while heavy lambs gained 6c to rest at 613c/kg.
Rain has discouraged restockers from operating, which resulted in the restocker indicator retreating 39c to 594c/kg.
The dearer trends have some key processors ready to apply the brakes and have started to reduce lamb and sheep kills because of the issue with supply and profitability.
It was evident at the Wagga Wagga sale on Thursday, with bidding erratic for heavy lambs.
Prices fell up to $16 for heavy lambs weighing above 30kg carcass weight, despite limited numbers being offered.
It was more telling in the sheep market, where a price correction of $19-$32 occurred ending the recent trend on increasing mutton rates.
The slower supply of lambs into Dubbo after substantial rain was enough to lift rates $4-$9 on Monday, with big gains for domestic lambs.
Heavy trade lambs sold at $151-$166 to average 655c/kg.
Heavy lambs were fewer and prices ranged from $162-$200.
Restockers seem confident paying up to $10 more for lighter weight lambs.
Lamb prices are creeping up, as smaller yardings of quality lambs spark stronger demand.
At the Corowa saleyards on Monday a drop in numbers saw trade lambs a hot ticket item.
Trade lambs gained $5 to record a top of $171, averaging 617c/kg cwt.
The other big mover was lambs 24-26kg lifting $5, with domestic processors clashing for a market share.
Bidding for extra heavy lambs fluctuated as there was not the weight of previous weeks.
Prices ranged from $154-$200
Lamb prices at Bendigo continued to firm this week.
This was fuelled by reducing supplies of well finished stock at major selling centres.
Trade lambs were the big movers selling up to $7 dearer making from $116-$166.
The number of heavy lambs entering the saleyard has slowed, with supplies monitored by the National Livestock Reporting Service limited above 30kg cwt.
The general run of extra heavy lambs sold at $156-$207, averaging 563-597c/kg cwt.
There was stronger processor competition in the mutton run despite one processor being absent, with prices jumping $6-$24.
Heavy merino sheep sold from $96-$149.60.
Heavy crossbred ewes made $115-$135.
Lamb prices continued to strengthen at Ballarat on Tuesday under pressure of the much smaller offering of 13,441 lambs and just over 4,200 sheep.
Prices over heavy trade categories averaged $14 dearer, while the better trade weights presenting with good finish made from $146-$180 to average 699c/kg cwt.
Heavy four score lambs sold $9 higher, to sell at $160-$190.
Extra heavy lamb rates improved $5 averaging 635c/kg cwt.
Restocker and lotfeeder demand ramped up for well-bred secondary lines, with prices ranging from $107-$142.