Australia-The Lamb market this week.

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 400¢ and a top of 460¢/kg cwt as many contributors grapple for supplies. In Queensland, rates for heavy trade lambs lifted to 450¢/kg cwt, while all other lamb categories were firm.

Heavy lambs over 30kg cwt were 30¢/kg cwt dearer in SA as processors try to encourage more lambs onto the market. Victorian trade lambs were dearer to average around 420¢, while heavy lambs averaged 423¢/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 21¢ from last week to settle at 412¢, while Merino lamb jumped 32¢, finishing at 369¢/kg cwt.

Light lamb was also dearer lifting 26¢ to 390¢, while trade lambs were 19¢ higher at 435¢/kg cwt. Heavy lamb lifted 14¢ to end at 445¢/kg cwt. Mutton was 26¢ dearer at 219¢/kg cwt.