Prices continued higher across Victoria and NSW last week, where a limited offering of lambs and mutton dictated stronger markets and cemented a floor in rates.
Most yardings presented in the past few weeks have been a representation of medium weight lines, with heavy lambs and lighter weights in shorter supply.
The below average start to autumn and winter in the Riverina, western NSW and parts of Victoria paints an ominous picture for processors looking to secure lambs, with weight and finish.
The first pens of new season lambs are showing up at northern markets. Quality has been mixed, with pens lacking weight and finish.
Trends at the Wagga saleyards in NSW strengthened $10-$20. Less numbers forced all buyers to up the ante for trade and heavy lambs. Agents said the downturn was seen as further evidence that lamb supply in NSW may track below usual winter-spring levels, which should work in producers’ favour.
An example was a lift in rates for lambs 21-24kg. Domestic and export processors regularly payed out to $164 for lambs weighing 24kg, while the better heavy trade lambs sold from $130-$167. Heavy lambs bounced $20, fetching $171- $224, with a single pen recording $228.
This rally will depend on how demand holds up from processors and how many lambs flow direct to abattoirs. We are seeing sporadic competition from major supermarkets, with reports they have plenty of lambs around them.
Lamb markets lifted in opening sales on Monday, with the prediction of rain helping to buoy demand.
Corowa led the way, underpinned by a shortage of supplies, with 5531 lambs penned. National Livestock Reporting Service quoted the market $8-$12 dearer, with plenty of lambs selling above 670¢/kg cwt. Heavy lambs were in short supply; 25-30kg cwt returned $165-$175, one pen topped at $176.
Monday’s Bendigo market was dearer across the board, rising $4-$10. Keenest competition was for well finished trade lambs, which made $130-$170 – the best returning 679¢/kg cwt. Heavy export generally sold from $164-$203. Merino lambs performed like rock stars, causing rates to bounce $12-$18. The main run of trade weights sold at $115-$156 to average 595¢/kg cwt
At Ballarat on Tuesday, lamb numbers increased marginally to 7695. Quality was average to good. The market was firm to $5 dearer and heavy lambs reached $210. Heavy export generally averaged from 620-636¢/kg cwt. The market included mixed quality types of trade weights which equalled last week’s rates to a few dollars dearer. Most trade weights sold from $122-$173 to average 656¢/kg cwt.
