Recent wet weather has served as a catalyst for processors, restockers and feedlots in the past week, leading to a significant surge in competition and prices within the Australian lamb market.
From mid-December onwards, lamb prices have experienced a notable increase of $1 a kilogram.
As markets opened in January, another $1/kg was added to the upward momentum.
Meat & Livestock Australia's lamb indicator for the eastern states finished at 782 cents a kilogram carcase weight, while the Heavy Lamb Indicator has experienced an 18 per cent rise since December, reaching 785c/kg cwt.
Restocking lambs have become highly sought-after, witnessing price gains of $10-$15 a head in the past week.
Opportunistic feedlot buyers have eagerly entered the market, propelling prices to new heights, particularly for second-cross well-bred lambs.
Mutton sales have experienced a notable upswing too, as most processors actively compete for trade types.
This trend was evident in Wagga Wagga, NSW, where a larger cohort of buyers joined the market.
Across all categories, price increases ranging from $20-$30 were widespread.
Can you believe it?
On Monday, lamb prices hit the brakes and experienced a significant decline as markets opened.
The latest saleyard reports indicate that most heavy lambs faced challenges in maintaining a price above 700c/kg, according to MLA National Livestock Reporting Service data.
In NSW, prices witnessed a decline ranging from $10-$25, while in Victoria, the drop was even more noticeable, ranging from $12-$35.
At the Bendigo market on Monday, the main lines of crossbred lambs, weighing between 26-30kg cwt, fetched prices between $180-$205.
Big, super-sized lambs commanded prices in the range of $216-$260, averaging 718c/kg cwt.
Trade lambs experienced a decrease of $12, resulting in an average of 683c/kg cwt.
The focus of the sale was on the mutton market, where prices had an increase of $11-$22.
Numerous pens surpassed the $100 mark, with an average ranging between 300-350c/kg cwt.
On Tuesday at Ballarat, numbers increased, building on the momentum from the dearer market last week.
A significant portion of the yarding was grain-fed, and quality was outstanding, especially in the heavy-weight categories.
Trade lamb buyers were cautious and quite selective, leading to a decline in prices ranging from $15-$24.
The heavier lamb category faced the brunt of the weakened market, experiencing a drop in rates of $25-$35.
Lambs weighing more than 26kg fetched $203-$268.
On a positive note, sheep prices had a moderate improvement, increasing by $3-$11, averaging 287c/kg cwt.
