The lamb market finished last week back in record territory as spring supplies failed to match processors' demand.
The national saleyard indicator for heavy lambs reached 950 cents a kilogram carcase weight on Monday night and is showing signs of closing in on unprecedented levels.
It follows impressive price gains in the past week as any well-finished lambs with weight and fat cover are eagerly sought by domestic and export processors at saleyards from the south and into central NSW.
Many of the major selling centres scrutinised by the National Livestock Reporting Service are now reporting neat pens of trade weight lambs above 1000c/kg liveweight, although the numbers at extreme price level are limited to the top drafts in each agent's run.
It comes as the industry feels the impact of a shortage of new-season lambs in the north due to the extremely wet weather and cooler conditions.
Buyers report many young lambs are overlooked by companies due to lack of fat cover and weight.
Supplies of new-season lambs are starting to build in Victoria with Bendigo leading the way.
Agents have warned that the flush will occur later this year with cool conditions preventing many lambs from getting into slaughter condition.
At Bendigo on Monday the best heavy suckers sold to $325 a head at an estimated cost of 1020c/kg.
Lambs weighing between 24-26kg met strong demand from domestic and export processors to average 960-996c/kg cwt.
The majority of heavy trade lambs weighing 22-24kg sold from $224-$258, averaging $13 cheaper than the previous week.
Ballarat restockers stepped into more weight this week paying to $235.
Lighter weight lambs with some frame and weight which were headed back to the paddock sold from $152-$198.
Meanwhile the mutton market regained its mojo with rates improving $10-$30.
The biggest demand came from Fletchers International Dubbo, NSW, who dominated buying in the heavy mutton market.
Heavy ewes sold between $176-$240.
At Corowa, NSW, on the same day, a bigger number of sucker lambs sold to $290 to average 901c/kg cwt.
Trade lambs were firm to $4 easier averaging 1008c/kg cwt.
While at Dubbo, with less weight on offer young trade lambs were $9-$13 dearer selling at $221-$262 to average 979c/kg cwt.
Heavy suckers topped at $296 and averaged 953c/kg cwt.
Lamb numbers at Ballarat were lifted to 8601 as new-season lamb supplies begin to trickle in.
Trade lambs were unchanged averaging 953c/kg, while extra heavy suckers averaged 983c/kg cwt.
