Heavy lambs prices drop amid hope at Bendigo lamb sale

Heavy lamb prices are not expected to find ground until at least the end of February, but there were positive signs for sellers at Bendigo on Monday.

Heavy lambs continue to wear the brunt of a price fall with prices plummeting another 18c/kg this week.

The heavy lamb indicator is now 169c/kg behind where it sat pre-Christmas, frustrating producers who have dubbed the market “unpredictable”.

Both lamb and mutton returns have fallen away in the past week, with the national trade lamb indicator closing trading on Monday at 783c/kg cwt.

But there was signs of hope for sellers at Bendigo on Monday when a smaller yarding drew an uptick in prices, by $10-$15/head on well finished trade types ranging from 800-860c/kg.

The heaviest lambs, up to 38kg made up to $294, or around 775c/kg.

But the bids died off on unfinished trade lambs, and these were back around 760-800c/kg.

Nullavale producer Jon Martin sold at Bendigo this week, with his 23 Wiltipoll lambs, weighing 16-18kg dressed weight, selling for $150.

“Prices have come off a bit; but the numbers seemed to be back yesterday and heavy lambs were a bit better than where they were last week,” Mr Martin said.

Vendor Jon Martin sold lambs at Bendigo this week for $150. Picture: Yuri Kouzmin

Mr Martin said returns for producers “aren’t too bad, we always want more, but I have been fortunate with a reasonable season and haven’t handfed at all.”

Tom and Charli Colvin, also sold two-tooth crossbreds for $145 at Bendigo and said rates were “better than expected” on the day. But, Mr Colvin said the market was “unpredictable” and hard to follow in the past 18 months to two years.

At Corowa in NSW on Monday livestock agents said trade lambs had taken a hit $5 to $10.

David Hill Livestock principal David Hill said the prices were being dictated by sheer numbers and absence of some key buyers with some supermarkets and processors filling up orders before Christmas.

“The best of the extra heavies made $283 on Monday,” Mr Hill said.

Lambs weighing 32 to 34kg were finished on feeders and lucerne.

“I think we are going to continue to see the market fluctuate until the end of February,” he said.

“Then, the market was likely to settle at a level, for heavies of around 770c/kg to 820c/kg.”

According to Meat and Livestock Australia kill figures for lambs are up 7.36 per cent with a total of 236,730 lambs killed in the state for the week ending January 10.

Slaughterings in NSW for lambs for the corresponding period increased 3.81 per cent year-on-year. The kill figures for sheep in that state were also up, by a significant 33.92 per cent with a total of 85,742 for the period.