Prime Sheep: Larger numbers did nothing to dampen lamb prices at early sales this week

Mutton and lamb prices remain at high levels, despite big numbers.

Big volumes: Buyers line the rails at the sale of crossbred store lambs at Deniliquin last week.

BUYERS were unable to dilute lamb prices in early trading this week despite much bigger numbers being offered at the major selling centres.

Price averages for both trade and export lambs continue to cling to a benchmark rate of 800c/kg carcass weight, which is keeping averages above $200 for good suckers weighing above 24kg.

Almost 28,000 lambs were yarded at Bendigo this week, with the NSW markets of Corowa and Dubbo also offering increased supplies as they resumed selling after last week’s public holiday.

There were 17,000 lambs at Corowa and 14,000 at Dubbo.

Southern lambs are also starting to move into saleyards, with Ballarat pushing above 15,000 last week.

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Despite this, bidding at saleyards has remained robust with little price change so far this month, a rare trend for spring, when values usually decline as numbers increase.

At the close of selling on Monday the national price average for heavy lambs was listed at 805c/kg carcass weight, and trade weights at 804c/kg as the market for all weights and categories tracks along similar lines.

These prices are about 100c/kg higher than a year ago, according to National Livestock Reporting Service data. When price data is broken down by region, the north is recording the best results, with NSW price averages trending around 820c/kg due to tighter numbers of good slaughter lambs in the poor season.

In dollar-a-head terms the heaviest sucker lambs, above 30kg, remain in the $230 to $240 range, with the bulk of the 24-28kg young lambs from $200 to $228. Processors are still reporting depressed skin returns of $3 and $4 for most pelts off trade weight lambs.

Ballarat restockers have been competing against processors for trade weight lambs to shear, paying above $200 at centres like Wagga Wagga and Bendigo in the past week.

Supplies of small store lambs remain limited in the auction system, and feedback suggests most trading has been on the AuctionsPlus system.

AuctionsPlus reported more than 25,000 store lambs on its system last week for an overall result of 403c/kg liveweight, which when translated into carcass money works out at more than 900c/kg.

Meanwhile, the high money for mutton has dragged more sheep into yards, with Bendigo selling 16,000 sheep this week, easily its biggest offering since last year’s drought sell-off.

Heavy mutton prices eased, with Fletchers International from Dubbo not dominating demand and chasing supplies as in recent weeks. But prices remained impressive, with most heavy sheep from $140 to $180 and some big Merinos in higher-value skins returning up to $202.