Exporters rejoin bidding in earnest

Improvements continue for the market as bigger weighted lambs gain up to $12 a head.

On the rise: Sucker lambs go under the hammer at Deniliquin in NSW on Tuesday as the market recovers ground.

THE lamb market has continued to improve its price position in the past week, with the best quality suckers now commanding more than 700c/kg carcass weight.

Helping lift the market on Monday was a step-up in demand from export processors, with the Bendigo saleyards reporting a top of $217 for heavy suckers as the bigger weighted lambs previously lacking support gained up to $12 a head.

However the market does appear fragile, and the rates recorded at some centres on Monday were not as buoyant, and a question mark still hangs over the industry on how it will cope as sucker numbers build into October and November.

At the close of selling on Monday night the national auction price average for tradeweight lambs had risen to 688c/kg carcass weight, a result reflecting new-season stock as well as some old-­season lambs still being sold.

Based on NLRS data from the Bendigo, Corowa and Dubbo saleyards on Monday, the best processing suckers are commanding from 700c to 720c/kg, with lighter domestic types higher, to about 780c/kg.

In dollar a head terms this has carried the pick of the 24kg to 27kg lambs from $168 to $190 a head.

Underneath this is the general run of medium and lighter domestic lambs from $130 to $165, with restockers stepping into the market at $135 to $148 for better-framed store lambs.

There have been a few sales above $200 for heavy suckers above 28kg cwt in the past week, but only in limited numbers. As an example, out of a yarding of 15,000 suckers at Bendigo there were only about 10 pens above $200 per head.

An analysis of price results by state does show some interesting results, with heavy lambs performing the best in the south, while trade weight lambs are dearer in the north.

The breakdown of the latest MLA data has:

HEAVY lambs (22kg cwt plus) averaging 681c/kg cwt in Victoria, compared with 648c in NSW.

TRADE lambs averaging 676c in Victoria, against a higher 694c in NSW.

LIGHT lambs at 712c in Victoria, well behind NSW at 774c/kg.

Season is playing a role, particularly in regard to light lamb supply and demand.

However, in Victoria there was some feedback this week that COVID-19 disruptions having prevented some exporters from forward-buying stock, they were now more active in the marketplace, examples being ALC at Colac and JBS.

The sheep market has produced mixed results in the past week, but is generally showing signs of a price correction in the south as more old ewes and wethers are sold off shears.

The national saleyard average for mutton was listed at 536c/kg cwt on Monday night, but at Bendigo on Monday the bulk of the sheep sold between 450c to 520c, depending on size.

— JENNY KELLY

MORE

Sucker lambs sell to $209 at Deniliquin amid big season

Eastern Riverina Poll Merinos top $5750 in Culcairn, NSW

Mulesing remains a thorn in wool’s side