Lamb and sheep prices started to gain some momentum last week as saleyard supplies slowed significantly after farmers backed away from the lower rates.
According to figures from Meat & Livestock Australia's National Livestock Reporting Service, sheep and lamb numbers declined the previous week to 63,587 mutton and 133,189 lambs.
The reduction in supplies appeared to have halted the rapid decline of prices across many categories.
An example of this was at Wagga Wagga, NSW, where numbers declined by 13,000 head with a 12,000-head drop in lamb numbers.
READ MORE:
The overall quality of the yarding improved with big numbers of grain-assisted lambs across trade and heavy-export classes.
Despite the uplift in quality, the market lacked direction at times and caused big price variations.
Heavy-export competition was strongest for lambs weighing more than 30 kilograms carcase weight, with prices bouncing $32 a head to average 608 cents a kilogram carcase weight.
But the auction was erratic, and the tone of the general market overall remained shaky depending on which processors were active at any one pen.
Trade-weight lambs also performed around weight and quality, with lambs weighing 23-26kg and carrying a short skin keenly sought.
Prices improved up to $20, with the top pens averaging 609c/kg, while more plain lots struggled, averaging about 562c/kg cwt.
Smaller lambs continued to flounder amid limited restocking support, as new-season lamb supplies nudge closer to hitting the NSW selling centers.
In the mutton sale, a positive was Fletcher International, Dubbo NSW, which dominated the sale.
Good lines of heavy sheep gained $7, making from $115-$140, to average 385c/kg cwt.
Trade sheep sold from $74-$116.
In the opening markets on Tuesday after the King's birthday long weekend, lamb prices drifted down.
A shorter trading week and widespread rain was not enough to support the market.
Lower export rates were recorded at Ballarat and Forbes, NSW.
On a carcase-weight basis, decent slaughter lambs hovered either side of 620c/kg.
At Ballarat, lamb numbers lifted to 27,600, while sheep supplies halved to sit at 3618.
The NLRS noted recently-shorn lambs performed much better in terms of bidding, with buyers pulling back on longer-wool types even if they handled reasonably well.
Trade lambs were unchanged to $5 cheaper, selling from $132-$160 to average 620c/kg cwt.
Heavy-exports lambs at Ballarat recorded a top price of $228.
Heavy mutton gained $10 with most medium and heavy sheep averaging 377-397c/kg.
- Leann Dax is an NLRS market reporter.
