Sucker lamb prices hold on as supply upset by season

The numbers of young lambs coming onto the market are telling, and it’s reflected in how prices are tracking this spring.

Young lamb prices continue to track more than 300c/kg carcass weight higher than year ago levels despite more stock coming into saleyards.

The national trade lamb indicator closed early this week at 772c/kg, 323c/kg higher than the same time last year, while the heavy lamb indicator was at 779c/kg, up 334c/kg.

And while the rates have slipped in recent weeks, there has not been a repeat of last year’s dire results which had prices dip below 500c/kg for heavy and trade lambs and under 300c/kg for restocker and light lambs.

Young lamb supply has been slow this season in southern markets and old lambs are still making more than 800c/kg carcass weight if they are good quality.

Figures from the National Livestock Reporting Service show more young lambs in northern markets in the NSW centres of Wagga Wagga and Griffith for August and September.

August yardings of young lambs in those centres were up 10,115 to 55,681 and the increased flow has continued this month with an extra 11,045 or 183,638 in the month’s sales to date.

But centres like Bendigo, supplied by areas with tighter seasonal conditions, are down for September, with this month’s offering of young lambs back by more than 5000 to 18,473.

Meat and Livestock Australia senior market information analyst Erin Lukey said prices were 79–158 per cent above the same time last year.

“The current market conditions, when compared to the past five years, show a positive shift towards stability and alignment with seasonal trends, instilling a sense of optimism in the market,” Ms Lukey said.

She said the national lamb market was very different to what it was 12 months ago.

“Livestock markets have demonstrated resilience in 2024 and are significantly more stable than in the past five years,” Ms Lukey said.

Elders Bendigo livestock manager Nigel Starick said sucker flow into Bendigo this year was slow.

Elders Bendigo livestock manager Nigel Starick said sucker lamb supply has been slow this season.

“It’s not surprising young lamb yardings have been higher further north, but around here, there’s been no growth in pastures because we’ve not had a good rain,” Mr Starick said.

“Parts of the Mallee have had 90mm for the year.

“For what has come in, it’s all about quality to get the highest prices with the top lambs this week making up to 840c/kg.

“But even the best old lambs, if they have quality, are selling from 820c/kg to 830c/kg at Bendigo.”

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