Restocker demand sees store lamb rates soar past $240 at major sales
Sheep producers have boosted store lamb buying by $10 despite stalling processor prices, signalling strong confidence in the industry's future prospects.
Sheep producers are voting with their wallets on confidence in the industry by boosting store lamb rates at a time when prime values are stalling.
At Wagga Wagga’s lamb sale on Thursday, restocker lines were $10 dearer and the best lambs to go back into the paddock or onto feed made $240 with other drafts of second-cross lines consistently making $200-$220.
And Hamilton’s market on Wednesday, National Livestock Reporting Service reporter Chris Agnew described competition on lighter and store lambs as “very strong” from feeders and restockers, pushing rates to $245 and to 1100c/kg carcass weight.
Nutrien Wagga Wagga livestock manager Peter Cabot said there was a big group of buyers looking for store lambs at Thursday’s market.
“We had plenty of Victorians and competition from central western NSW as well at the sale,” Mr Cabot said.
And while most of the store lambs are coming in woolly, he said there was a premium for any that were shorn.
“If store lambs are shorn, they are making an extra $20-$30,” he said.
Dry seasonal conditions are starting to bite into quality, with Mr Cabot judging much of the yarding as store quality.
Most lambs going to processors sold in a range of 1000-1100c/kg carcass weight.
This fits with the seven-day rolling average calculated from information collected by the National Livestock Reporting Service, where heavy lambs closed at 1083c/kg, on Thursday, losing 57c/kg in the past month.
Trade lamb rates are also back, down 67c/kg in the past month to close on Thursday at 1073c/kg, at a slight discount to heavy export runs.
National restocker and light lamb indicators have also lost ground in the past month, but not as much, back 19c/kg and 20c/kg carcass weight respectively.
Meanwhile, mutton prices are holding, with best sheep making up to $310 for heavy crossbred ewes at Wagga Wagga on Thursday.
The national mutton indicator is sitting at 759c/kg carcass weight, up 23c/kg on a month ago.
