Mutton and lamb markets have been hitting the headlines all year, but it’s still easy to overlook the huge money being created by both.
The topic was discussed in glowing terms at last week’s lamb and sheep sale at Wagga, when crossbred ewes sold to an Australian prime sale record of $200.20.
In a smaller offering last week, the sale fell short of turning more than $5.6 million, ranging from lambs through to rams. The council report for Wagga lists price averages for shorn lambs at $158.40, topping at $216.
When you compare the ewe and wether average it sits at $154, which equates to a $4.40 shortfall to the shorn lamb average. The obvious benefactors to these higher prices are producers followed by stock agents, whose income is via commission.
The eastern states mutton indicator jumped 10¢ on Tuesday night to close at 517¢/kg carcass weight. While mutton prices have traded above 500¢/kg in recent weeks, according to the data from the National Livestock Reporting Service (NLRS), the highest the indicator had ever reached in previous years was 481¢/kg in March 2011.
Lamb and sheep prices continued to show mixed trends, with bidding from processors at times slipping in opening markets on Monday. Numbers at Bendigo declined by 1065 to 12,030 despite drying conditions. NLRS said quality was mixed, though some agents did have drafts of well finished supplementary fed lambs.
Lamb prices benefited from solid restocker competition as confidence continues to grow on the back of stronger prices for contract lambs.
All major lamb categories recorded dearer trends $2-$7, with most obvious being a ramp up in demand for heavy lambs.
Store buyers underpinned light weight categories, cementing a floor in prices for lambs weighing less than 20kg. Lambs with frame returning to the paddock made from $108-$128 to average $119.70. Heavy sheep prices softened anywhere from $2-$13, while trade sheep rates lifted $19 to average 551¢/kg cwt. Light sheep were keenly sought, gaining $15, and making from $90-$108.
At Ballarat on Tuesday, lamb numbers dipped by 2243 to 25,296 as the selling season begins to wind back.
Lambs to feed on were keenly sought, topping at $145. Trade lambs sold to stronger demand, gaining $5 and making from $130-$172 to average 678¢/kg cwt. Heavy lambs generally averaged $192.90 and reached a top of $236.
The mutton market fired, gaining $5-$11. Heavy crossbred wethers sold to record levels, making $200, while other heavy grades sold at $120-$178. Trade sheep averaged 446¢/kg cwt, selling at $86-$140.
