Mutton lifts indicator above 600c

Competition for lamb was also strong, with prices creeping up slowly instead of steep increases, with agents reporting more consistent demand from processors early this week.

Runnning hot: Increases of $20 at some saleyards pushed the national indicator above 600c/kg, with Bendigo a key centre. Picture: Dannika Bonser

LAMB and mutton prices continued to creep upwards in the past week on the back of tighter than usual supplies for this time of year.

The sheep market was the big mover earlier this week, with rates at some centres spiking by more than $20 to carry the national saleyard indicator back over 600c/kg carcass weight.

Bendigo was a hot spot for sheep, with only 3700 yarded, and a clash between two export buyers on heavy ewes pushed prices to $274 for big crossbreds and $268 for Merinos.

Some sheep were estimated at more than 700c/kg cwt by the National Livestock Reporting Service.

However, the Bendigo sale did settle to average about $20 dearer, with most decent-framed sheep from $140 to $220.

Strong mutton sales were also reported at Dubbo and Corowa in NSW on the same day, with the national mutton indicator sitting at 611c/kg cwt at the close of sales on Monday night. Competition for lamb was also strong, although prices are creeping up rather than showing dramatic increases.

The national indicator for heavy lambs (22kg plus) went up 3c to average 842c/kg on Monday this week, while the trade lamb indicator moved 2c to 855c/kg carcass weight.

But add up all the consistent gains in the past seven days t and the market for heavy lambs improved by 25c and trade lambs by nearly 30c/kg.

These categories are now tracking 30c/kg to 40c/kg above the same time last year.

It comes as production figures highlight a slow start to the year in regard to lamb and sheep supply, influenced by a general shortage of stock and the wet summer weather.

The latest available slaughter figures for late January had the eastern states lamb kill at 323,000, which is 7 per cent below 12 months ago and well below the five-year average.

Sheep slaughter was at 96,000 in round terms to be 32 per cent below a year ago.

Agents reported more consistent demand from processors in early trading this week compared to the erratic results of the past fortnight.

Heavy export lambs above 30kg cwt, which had been the subdued category during January, improved to move towards an 800c/kg ballpark average.

At Corowa the heaviest shorn lambs sold from $245 to $270 to be estimated at 809c/kg by the NLRS, while at Bendigo they made from $236 to $274 at 780c/kg across a mixed run showing plenty of weight.

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