Lamb rates have begun the new financial year on a high note.
The Eastern states lamb indicator benching a new record at 919c/kg carcass weight up 26c/kg week-on-week.
Most saleyards last week reported price gains for heavy export and trade lambs.
One of the standouts of the week was the fierce competition for the better shaped trade lambs which saw this category smash through the 1000c/kg carcass weight barrier regularly.
Stronger buying competition from processors along with wet weather and tight supplies, continued to push markets into uncharted territory.
The Wagga market's sale on Thursday was the standout of the week with the National Livestock Reporting Service recording lambs 22-24kg selling to a top price of $250.
Other trade lambs categories sold well too, aided by the relentless competition from buyers who continually paid from 930-1000c/kg cwt to secure numbers.
Merino trade lamb rates were amazing, a fantastic boost for the industry.
That's the easiest way to describe the result for rates which literally charged to $252 per head for 24/kg cwt.
Prices were mixed for heavy lambs during early trade this week mostly because of quality variation.
Numbers at Bendigo increased at just over 12,000 lambs on the back of dearer trends last week.
National Livestock Reporting service (NLRS) said intensity built for the better finished trade lambs lifting rates $5-$10.
The better finished heavy trade lambs made from $198-$247 to average 989c/kg cwt.
Heavy lambs gained $11 under 30kg cwt, averaging 980c, while over 30kg cwt slipped $7.
The battle for trade lambs kicked off strongly at Corowa in NSW on Monday.
The top pen of trade lambs hit $270 with the balance making from $199-$248 to average 988c/kg cwt.
Heavy lambs gained $7 averaging 941c/kg cwt. Meanwhile sheep prices slumped $9-$27 with heavy ewes selling at $151-$220.
Ballarat lamb market has been the best performing in Victoria.
For consecutive weeks heavy lamb producers have been well rewarded for their efforts.
The result was the market topping at $354.
While the bulk of the heavy lambs jumping $16-$22 to average a whopping 1007ckg cwt.
Trade lambs rates also increased and this week returned more than 1000c/kg in isolated sales.
The best of the medium and heavy trade lambs made from $197-$266 to average 970c/kg cwt.
Some exceptional prices have been recorded for mutton however this week rates fell for heavy ewe mutton $4-$12.
Trade categories weakened $4-$5 to average 590c/kg cwt.
