Lamb prices experienced another price correction this week as the industry continues to try and find a base price leading into the third week of autumn.
Price cuts stood out most across trade lamb categories, with good domestic slaughter lambs having to be outstanding to make over $200 a head.
This represented a roll back of about 55 cents a kilogram carcase weight in the past 10 days or an equivalent of about $15 on a 22-24-kilogram lamb.
At the close of trading last week saleyard averages for trade lambs was listed at 822c/kg cwt and heavy lambs at 812c/kg.
There were reports processors had more lambs around them, with over the hook or direct sales increasing from low levels of recent weeks.
Buyer competition has been somewhat erratic at physical markets, with not all processors buying or fully active from sale-to-sale.
Processor competition limited
It was evident at Wagga Wagga in NSW with JBS Swift, Goulburn Meats and Thomas Foods International very selective when competing on across trade and heavy lamb classes.
Other major companies such as Australian Lamb Company and Herds were also very quiet.
Adding to the mix on the lighter end, Midfield Meats at Warrnambool did not attend.
This reduced pressure on the top end of trade lambs and the result was a weaker price of $13 across the bulk of weight categories.
Erratic trends at some sheep markets
The heaviest lambs over 30kg or more were unchanged, while lambs 26-30kg dipped $14 to average $228.
The mutton market continued its pace with heavy crossbred ewes making to $288 to average 689c/kg cwt.
Heavy Merino ewes sold at $166 to $215 with the heavy end lacking the weight of the previous market averaging around 651c/kg cwt.
The lamb market in opening sales in NSW lost its price consistency as buyers tried to lower purchase rates amid building autumn supplies and mixed quality.
Markets at both Corowa, NSW, and Dubbo, NSW, on Monday were erratic despite the public holiday in Victoria.
The end result at both markets was cheaper, as averages were dragged well below the 800c/kg cwt in places.
How prices played out
At Dubbo this week trade lambs lacked major processor demand which resulted in a cheaper trend of $23.
The bulk of the trade lambs made from $146 to $200 with the 22-24kg lambs averaged 772c/kg cwt.
Heavy lambs tanked with competition patchy.
Big heavy lambs more than 30kg fell $30 making from $210 to $269 to average 768c/kg cwt.
At Corowa trade price softened $2 to $3 to average 842c/kg.
- Leann Dax is an NLRS market reporter.
