Restocker lambs rise 60c/kg, Victorian grazier cites ‘greatest’ prices

Restocker lamb prices have surged 60c/kg in a week to hit 1163c/kg, while Victorian grazier Lindsay Filbey says the current market is the best he's seen in 78 years.

Restocker lambs have hit a 60c/kg weekly price rise nearing the end of spring, as a northern Victorian grazier dubs it the “greatest” lamb prices of his lifetime.

Meat and Livestock Australia’s restocker lamb indicator has risen 60c/kg within the past week to Monday to sit at 1163c/kg. The light lamb indicator was trailing behind with a 25c/kg weekly increase to 1066c/kg, followed by heavy lamb at 23c/kg to 1159c/kg, Merino lambs by 16c/kg to 1008c/kg and the national trade lamb indicator rose 10c/kg to 1150c/kg.

The restocker lamb yardings had only a slight difference with 194 more on offer this week, while all other indicators had drops between 3000-6000 lambs. Mutton had 28,000 fewer yarded compared to the week prior.

Creek View grazier Lindsay Filbey. Picture: Zoe Phillips

Creek View grazier Lindsay Filbey hoped to buy store lambs at Bendigo last week to shear and feed on lucerne, but was unable to enter the market at its current price range.

“Lambs were just too dear to turn out,” he said. “With the risk of feeding them on supplementary feed … At the end of the day it’s nice to get a handsome little profit but it’s not guaranteed.”

He hadn’t sold any lambs since autumn and typically waited until November to buy in lambs to shear and fatten.

“I like to buy them around $100 and sell them for around $220,” Mr Filbey said.

“I’m 78 years of age, I’ve been farming all my life and these are the greatest prices I’ve seen in my lifetime.

“Not only for store lambs, but fat lambs and cattle too, it’s a golden era.”

He said prices would need to fall before he re-entered the lamb market.

“I always think the more people you put in the world, every one of them chooses to eat, it should be a guaranteed market.”

Elders stock and station agent Harry Cozens said heavy lamb prices were $10-15 dearer at Corowa on Monday, while trade lambs were at least $10 a head stronger driven by supply and demand. He said the top price was $395 or 1160c/kg for shorn suckers, which weighed 34-35kg.

“Processor activity was strong the whole way through the sale, whether it was the top end of the lambs, secondary lambs or heavy and light mutton,” he said.

Mr Cozens said there were signs the season had started to cut out, but northeast Victorian lambs had held onto their freshness.

Victorian sheep yardings rose 35 per cent last week, but other states faced drops including South Australia (-32 per cent), NSW (six per cent), and Western Australia (17 per cent).

Lamb yardings had an eight per cent rise with new season lambs coming onto the market, with reported heavy bidding from domestic and export processors. Meanwhile, MLA attributed the restocker lamb jump to “favourable” seasonal conditions and strong buyer activity in NSW.