Restockers were out in force early this week which helped maintain lamb prices despite a lift in numbers at some major saleyards.
Good rains have produced an abundance of autumn feed in many areas which has boosted the flock rebuilding now underway.
Restockers have been active both in saleyards and online as the lamb and sheep market continues to largely defy the downward price and demand pressures across most commodities caused by the coronavirus pandemic.
Rabobank's senior animal proteins analyst Angus Gidley-Baird said sheepmeat prices should remain strong through 2020 despite the global economic downturn triggered by Covid-19.
He said historically low sheep numbers and flock rebuilding after widespread heavy rains would help shield lamb and mutton prices from the impact of the virus.
Food hoarding by consumers had fuelled prices in late March but Mr Gidley-Baird said that demand had now dissipated and lamb prices had softened.
He forecast heavy lamb and mutton prices would follow a similar trajectory to last year, with prices to come off their highs from earlier in the year before picking up again through winter - albeit no higher than the mid-year peaks experienced in 2019.
A line of 190 young first-cross ewes from Walgett in north west NSW topped this week's AuctionsPlus national lamb sale on Tuesday at $337 a head.
The off-shears ewes, 6-8 months, weighed 51.4kg (655.6 cents a kg liveweight).
A similar line of 190 ewes from Walgett fetched $334 (649.8c live).
The sale attracted 31,020 ewe and wether lambs from across the country.
Two lines of 7- to 9-month-old composite ewes totalling 430 from Girilambone in western NSW and weighing 50.2kg live fetched $306 (609c a kg live).
Young White Dorper ewes were also in demand with 170 from Cobar in western NSW (5-7 months and weighing 34.4kg) fetching $263 while a line of 365 (5-6 months and weighing 32.8kg) from Roma, Queensland, sold for $262.50.
A yarding of 23,000 lambs at Ballarat's Tuesday sale attracted plenty of interest from both processors and restockers.
Agents reported a generally strong market for all lamb weights with heavy trade lambs, 24 to 26kg, making from 760 to 800c. Heavy lambs topped at $296.
Tuesday's Forbes yarding nudged up by 1740 to 13,660 including 10,970 lambs and 2690 sheep.
Restockers helped put a firmer trend in the market with store lambs selling from $165 to $185.
Trade weight lambs held steady at $190 to $210 while heavy export lambs were firm and ranged in price from $230 to $270.
Yarding numbers also rose marginally at the SA Livestock Exchange at Dublin on Tuesday with 4500 lambs and 1200 sheep.
Light and medium weight trade lambs were mostly firm while heavy export lambs eased by $25 to $30.
The lamb yarding almost doubled to 15,000 at Bendigo on Monday but mutton numbers dived by 1000 to just 2000 head.
Lamb prices were $10 to $15 cheaper across all grades and weights with the temporary closure of Melbourne abattoir, Cedar Meats, due to coronavirus contributing to the dip.
Top-quality domestic lambs around 21-24kg carcase weight held their value best while secondary lambs lacking finish or with rough skins were in less demand.
There wasn't many heavy export lambs on offer with the best selling from $240 to $260.
Cedar Meats had been a major buyer of heavy sheep in recent weeks and its absence impacted on heavy ewe prices which were significantly cheaper in places.
Restockers were active at Monday's Dubbo lamb sale after more good rains across central west NSW.
Wide parts of the region are now enjoying a bumper autumn with grass literally growing above fence height.
Numbers lifted by almost 2000 to 5130 head with processors forced to battle with restockers for lightweight lambs.
The 12kg to 18kg 2 score lambs sold to $174 while trade lambs were firm with the 18kg to 24kg lambs selling from $157 to $212 to average from 810 to 870 cents a kilogram dressed.
Heavyweight lambs were also firm with the over 24kg 4 score lambs selling from $206 to $272.
Lambs to the restockers were $8 dearer, selling from $120 to $205. Hoggets sold to $200.
Lamb and mutton slaughterings across the eastern states continued to decline last week.
A total 271,413 lambs were processed including 143,326 in Victoria, down 5 per cent, 86,480 in NSW (down 10pc) and 38,205 in South Australia (down 14pc).
The mutton slaughter nosedived by 16pc to 56,485 headed by 28,689 in NSW (down 12pc) and 20,059 (down 28pc).
Vernon Graham
Former editor of The Land, former Fairfax Media Agricultural Editor
Former editor of The Land, former Fairfax Media Agricultural Editor
