Big lifts in lamb market as $200 and 600c/kg mark reached
There’s light at the end of the tunnel for lamb producers with stock to sell as prices broke $200 today. Read where it happened.
Rain has driven lamb prices to more than $200 at Wagga Wagga, NSW, today in a major confidence builder for the industry.
While a smaller yarding pushed rates up across the board, restockers were also active, showing their willingness to jump back into the market on the back of widespread rain.
National Livestock Reporting Service reporter Leann Dax said despite the smaller numbers, quality was still high, helping to push rates for the heaviest lambs above $200, and to $205 for a line that was more than 30 kilogram carcass weight.
Lines which weighed 26-30kg carcass weight averaged 590c/kg carcass weight, a big lift on recent values, while trade weights were $6-$8 dearer, averaging 580c/kg carcass weight.
Ms Dax said the “market dynamics underwent a shift due to favourable rains across the region”.
“This put a spotlight on light lambs as restockers took centre stage,” Ms Dax said.
“This resulted in an increase in prices, climbing by $6-$13.
“Notably, a significant buyer hailing from Inverell, NSW, alongside numerous local and Victorian buyers, played a key role in the market.”
Nutrien Wagga Wagga agent Peter Cabot said the big rain in the Riverina had a huge impact on the lamb market.
“The best heavy lambs were up to $30 dearer and made over $200, and we have not seen that for six and seven months,” Mr Cabot said.
He said light trade lambs sold up to 600c/kg and thought store lambs were “at least $20 dearer”.
“We saw good woolly lambs make $80-$90 and even up to $100 in spots, and we’ve not seen that since last year,” he said.
Limited supplies of shorn lambs made up to $90.
And even the smallest and lightest lambs have improved in prices, Mr Cabot said, with light lines that were making $30-$40 now selling for $50-$60.
“Prices are a lot better, on the back of the rain, but how long those numbers are limited for will be interesting to see,” he said.
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