Lamb prices are beginning to ease across eastern states as larger numbers of southern lambs flow into saleyards.
Corrections have not been dramatic as for cattle, but lamb prices have slipped $4-$10 in the past week and are now tracking at 601¢/kg carcass weight.
After Monday’s sales, four of the five eastern market indicators for lamb were higher than 600¢/kg. The trade lamb indicator closed at 606¢/kg cwt, while heavy lamb closed at 605¢/kg cwt. Restocker lambs continue to sell at the highest rates at 695¢/kg, while light lambs closed at 626¢/kg cwt.
Bendigo’s offering of 21,000 lambs sold cheaper on Monday in what the National Livestock Reporting Service described processor participation as selective, caused by the plainer quality. Some buyers put this down to processors having enough lambs to buy privately further south, taking the pressure off sourcing them from saleyards.
Most heavy lambs 26-30kg made from $140-184/556-614¢/kg cwt. Demand was up to $10 weaker for trade lambs 20-24kg which made from $124 to $160, or about 586¢/kg, the best returning 620¢/kg cwt. Bidding remained intense from restockers, with orders from Finley, Swan Hill, Ballarat, Rainbow, Birchip, Shepparton, Yarrawonga and local areas. Store buyers dominated on the lighter weight lambs, pushing processors into the back ground. Most lambs sold above $100 to top around $124.
In contrast, mutton continues to hold up well. The mutton indicator was slightly cheaper on Monday, closing at 436¢/kg cwt.
Mutton sheep at Bendigo were up to $3 dearer, with one extra export buyer from the north dominating the Merino ewe section. Merino ewes averaged $113 for sheep in the 20-24kg carcass range. Heavy Merino ewes sold to $160 and heavy crossbred ewes $120--$145.
At Ballarat on Tuesday, the lamb market continued its strong price trends with trade lambs averaging about 602¢/kg. There were some minor price changes of $3-$4 in the mixed quality yarding of just fewer than 42,700 lambs and 10,188 sheep. Heavy lambs were in reasonable supply, selling at $159-$206 to average 613¢/kg cwt. Light lambs did not receive as much processor support and prices eased back $3, making from $88-$123. Secondary lambs returning to the paddock were a hot-ticket item with restockers travelling from Shepparton, Hamilton, Warrnambool, Birchip and local areas.
In the mutton market, rates were driven by strong northern competition. Prices generally lifted $2-$5, with heavy Merino ewes selling from $123-$156. Equally as impressive were the Merino wethers, with sales ranging from $126-$165.