Saleyard lamb prices climb

Last week, eastern states lamb saleyard throughput was around 30,000 head lower week-on-week and also from the corresponding week last year.  Eastern states lamb slaughter was relatively unchanged week-on-week and year-on-year, at 359,535 head.

Further exacerbating the reduced supplies, the prediction of rain across the eastern states late last week and over the weekend fuelled lamb saleyard prices.

At Wagga last Thursday, well-bred store lambs and plain quality light weight lambs attracted strong competition from a large gallery of store lamb buyers, resulting in dearer price trends.

The dearer trend continued at Dubbo yesterday, where solid demand from a full field of buyers resulted in stronger prices. It was a similar story at Bendigo, with dearer prices recorded across most pens, and processors were active after reports of some direct-to-works consignments being hampered by the rain.

At the conclusion of Monday’s markets:

• The eastern states restocker lamb indicator was 46¢ higher week-on-week, at 750¢/kg cwt, returning to the highs of four weeks ago
• Merino lambs gained 20¢, to 616¢, while light lambs lifted 1¢, to 656¢/kg cwt
• The Eastern States Trade Lamb Indicator (ESTLI) increased 24¢, to 664¢/kg cwt
• The heavy lamb indicator was 20¢ higher than week-ago levels, on 649¢/kg cwt