Lamb prices remain buoyant, but markets finished last week less extreme than some recent sales.
Wagga was still trying to find its autumn/winter price direction, with Thursday’s sale recording erratic price trends. Restocker activity also eased off, with store buyers not so keen to push prices for plainer conditioned lambs and nondescript types. The trade market lost some traction, with producers pushing more stock into the sale on the back of last week’s significant jump.
Trade lambs were generally $5 cheaper, with bidding not reaching last week’s highs for good quality shorter skinned slaughter lambs. The best trade lambs sold to $173, with most from $128-$168 to average 650¢/kg cwt.
The market hit a snag on heavy export lambs, with competition patchy. Heavy lambs fell $10-$12, selling from $171-$243.20. Export buyers upped the ante for heavy Merinos, paying up to $204 for a pen weighing 28kg carcass weight and wearing a skin value of $20. In the mutton sale, the best heavy sheep sold to $208 with a few selling above the $200 mark. The general run of sheep averaged about 550¢/kg cwt.
Prices were mixed during early trade this week, mostly because of quality variation. The eastern states lamb indicators were showing little change during early trade on Monday.
Numbers at Bendigo were steady at just more than 12,000 lambs. There was a mixed quality offering which lacked finish, selling to fluctuating price trends. National Livestock Reporting Service (NLRS) said the better finished lambs retained their values the best, with prices for trade lambs overall lifting. An example was crossbred lambs, which sold $4-$7 dearer.
Better finished heavy trade lambs made from $149-$184 to average 697¢/kg cwt. Limited supplies of heavy lambs helped cement a floor in rates, with prices averaging 643-672¢/kg. Thanks to strong competition, restockers upped the ante with the lighter store lambs selling $6 dearer to average $110.70. Heavier well-bred lambs returning to the paddock made from $124-$134, while lambs to feed-on topped at $145. Light plain lambs to slaughter made $90-$126.
Ballarat has been the best performing market across the eastern states for months, and this week was no exception. For the fourth consecutive week, heavy lamb producers were rewarded – the market topping at $250 and more than 30 pens selling above the $200 mark to average 661¢/kg.
Trade lambs rates have also charged ahead and this week returned more than 700¢/kg in isolated sales. The best medium and heavy trade lambs made from $144-$178 to average 690¢/kg cwt. Lambs to feed on hit $155, averaging $144.60.
