Despite a short trading week in Victoria and NSW, market signals suggest prices for sheep and lambs will continue to lose traction.
After a lack lustre start to the sale at Wagga Wagga, NSW, rates fell $15-$28 a head – reflecting the highest fall in two months as demand continues to be affected by production slowdowns at some processing plants.
Better presented new season lambs in both trade and heavy weight classes sold $10-$15 cheaper. Supermarket types sold from $144-$197.20, to average 729c/kg carcase weight.
The best price recorded for a heavy young lamb was $249.29, weighing 29kg cwt, with the bulk averaging 788c/kg cwt. The market faded-out at the lighter end as prices continue to be pressured by feed and water problems. There was discounting of $10-$28 by export processors, reflecting the deteriorating spring conditions.
There were signs restockers were prepared to enter the market as the sale rolled on due to more favourable rates. Stock agents controlled the market at the lighter end for well-bred types, paying mainly from $76-$162. Other restockers to enter the market came from Tasmania, Birchip and Bathurst.
A trend at most sale yards was much weaker competition for mutton despite quality being very good at some selling centres.
The selloff of ewes has been unusually high, influenced by the lack of rain and record prices encouraging producers to cull. More than 25,000 sheep were sold at Wagga and it was a downhill slide all the way.
Heavy Merino and cross-bred ewes fell $35-$56, av 340-383c/kg cwt. Trade sheep slipped $21-$46/hd, while light weights eased back $12/hd.
Following an erratic fortnight, the shorter trading week stabilised prices at Bendigo, where agents yarded 28,000 lambs and 18,000 sheep. Prices for lambs returning to the paddock lifted with restockers paying from $103-$124 at the lighter end for quality lines of second-cross types, and lambs with frame and weight sold from $124-$169. Lighter exporters weight lambs made $81-$129.
Light and medium trade weight categories sold either side of firm with some sales reportedly $3-$4/hd cheaper. New season supermarket lambs slipped $2-$5 topping at $194, av 724c/kg cwt.
Bidding for heavy lambs fluctuated with prices firm, selling from $195-$236.
A moderate lift in numbers saw 13,808 drawn at Ballarat on Tuesday. Quality was good with a bigger buying group in attendance and operating in a dearer market. Extra heavy lambs made to $218 with other sales ranging from $188-$215. Pens of neat domestic lambs, showing good carcase shape and finish, sold $10 dearer, and av 707c/kg cwt.
