Sheep and lamb market alert
18/03/2009
OTH rates firm to dearer
Over the hook (OTH) sheep and lamb rates are firm to dearer when compared to the previous week. Processors increased rates to keep inline with the dearer trend experienced at physical markets. Values have also risen with increased processor competition to secure adequate supplies of lambs, as there is an anticipated shortfall in the coming months.
Quality has been reasonable with the better quality lambs harder to source. The lightweight lambs and lightweight trade lambs are starting to slip in condition, while better quality lambs have been supplementary fed.
In NSW, trade lambs had a low price of 400ยข and a top of 460ยข/kg cwt as many contributors grapple for supplies. In Queensland, rates for heavy trade lambs lifted to 450ยข/kg cwt, while all other lamb categories were firm.
Heavy lambs over 30kg cwt were 30ยข/kg cwt dearer in SA as processors try to encourage more lambs onto the market. Victorian trade lambs were dearer to average around 420ยข, while heavy lambs averaged 423ยข/kg cwt. WA OTH rates are firm.
Sheep rates lifted as there is fierce competition between processors to keep there plants operating.
Indicators climb
At the close of Tuesday’s markets, the eastern states sheep and lamb indictors rose when compared to the same time last week. Restocking lambs gained 21ยข from last week to settle at 412ยข, while Merino lamb jumped 32ยข, finishing at 369ยข/kg cwt.
Light lamb was also dearer lifting 26ยข to 390ยข, while trade lambs were 19ยข higher at 435ยข/kg cwt. Heavy lamb lifted 14ยข to end at 445ยข/kg cwt. Mutton was 26ยข dearer at 219ยข/kg cwt.