The lamb market has recorded a swift response to recent rain, with the eastern states trade lamb indicator lifting 51¢/kg.
The national lamb indicator improved to 679¢/kg by the time markets closed last week, while heavy lambs were at 616¢/kg carcass weight.
This suggests a likely shortage in weeks to come, especially now that lamb yarding figures at some markets are showing a decline.
The big carcass weight money is for supermarket lambs. One of the major supermarket companies is already predicting a shortage and is offering 670¢/kg for May delivery.
Heavy rain across much of NSW and Victoria had an immediate effect on prices at Wagga on Thursday, in a smaller larger yarding of 22,500 lambs and 6500 sheep.
Meat & Livestock Australia said prices tracked at dearer levels over all categories, with well finished trade and heavy export lambs showing the greater price increases.
There were several highlights in the sale, the most noteworthy was heavy export lambs which jumped $13 and reached a high of $235.20. The surge in rates meant heavy lambs constantly sold from $181-$232 to average 658¢/kg cwt (or the equivalent of $197.80).
There were plenty of signs that domestic processors are prepared to push the market higher, due to diminishing supplies of quality trade lambs. Shorn trade lambs were paid premium rates and consistently hit 700¢/kg cwt. The main run of trade lambs sold from $124-174 to average 678¢/kg cwt.
Robust demand for mutton pushed prices higher. The mutton market bounced a further $9-$14 on last week’s hefty increase. Merino ewes topped at $186.20, with the bulk of the medium and heavy sheep selling at $83-$178.
There was some price spikes for lamb in opening markets at Dubbo, Corowa and Bendigo and overall the lamb markets continues to track at higher price levels.
There were some big price increases at Dubbo on Monday, with limited numbers driving gains of $5-$10. However, other sales recorded varied results, especially at the lighter end. Trade lambs sold up to $10 higher, making from $123-$168 to average 657¢/kg cwt. Heavy lambs made from $160-$212.
Lamb numbers were up by 7000 to 23,145 at Bendigo on Tuesday. National Livestock Reporting Service said there was some good quality drafts of grain fed lambs. Extra heavy lambs made to $224, while heavier trade weights sold from $148-$164.
Lamb almost broke the $240 barrier at Ballarat, with a single pen of heavy lambs selling to $239.50, while the bulk averaged 652¢/kg cwt. Trade lambs gained $5 to average 655¢/kg cwt.
