Mutton prices have surged to their highest levels in six years. The Eastern states mutton indicator last week closed at 412c carcass weight nationally, the highest since September 2011 when it traded at 407c/kg cwt. Interestingly at close of trade last week Victoria sat above all states at 443ckg.
While mutton prices have traded above 400c/kg in recent weeks, according to the data from National Livestock Reporting Service (NLRS) the highest the indicator has ever reached was 481c/kg in March 2011.
The steep jump in mutton rates is most certainly a reflection of the tight supplies and good rain in the north of NSW and Western areas, compounding the shortage of supply
At the Wagga prime sheep and lamb sale on Thursday sheep numbers lifted to just over 6000 the NLRS said. Heavy merino ewes sold from $113-$173.60 while crossbred ewes topped at $187.60 with most averaging 477c/kg cwt. Wagga agents said it was one of the dearest markets they had witnessed. Mark Login of Blake’s and Co said higher rates were not surprising, given the 6,000 sheep available represented only a day’s kill for two of the biggest processors.
Lamb prices were similar to last week’s rates. Trade lambs topped at $167.20 to average 628c/kg. Heavy lambs made from $158-$225. Secondary well-bred lambs were keenly sought. The bulk of the store lambs made from $80-$131
Market signals out of NSW last week suggested prices could strengthen and have a carry-on effect into Victorian markets again this week.
Lamb numbers at Bendigo declined by 4,112 to 13,170. The National Live Stock reporting Service (NLRS) said quality was very mixed although some agents did have drafts of well-finished supplementary-fed lambs. Lamb prices benefited from solid restocker competition as confidence grows through stronger prices for contract lambs. All major lamb categories recorded dearer trends $4-$6 with most obvious being increased demand for store lambs with prices jumping $7. Lambs with frame returning to the paddock made from $87-$122 to average $112.50.
Sheep prices rallied anywhere from $6-$19 with trade sheep a must-have item. The bulk of the heavy and trade mutton sold at $89-$148 to average 490-508c/kg cwt.
At Ballarat on Tuesday, lamb numbers dipped by 5,358 to total 19,305. Quality was outstanding and the market included restocking types. Lambs to feed on were keenly sought topping at $141. Trade lambs gained $5-$9 making from $121-$166.50 to average 650c/kg cwt. Heavy lambs averaged $184 and reached a top of $223. The mutton market showed a dearer trend of $3-$5 averaging 480c/kg cwt.