Sheep and Lamb
Volatility has continued and saleyard numbers continue to be above average. For example, CVLX Ballarat this week yarded 50,000 sheep and lambs which is a significant increase on recent year’s Autumn yardings.
The market has been following the sentiment of the season. April saw strong gains in mutton and a slight rally in secondary and restocker lambs. Grain assisted export lambs with genuine loin coverage have remained the most consistent category.
However, with the latter half of April and the start of May remaining relatively dry, the past two weeks have seen a downward trend. Better lambs have been selling for $6.50 – $7/kg and mutton has returned to below $4/kg.
Cattle
Similar to the sheep and lamb market: numbers and volatility. Wagga is consistently yarding over 3000 and the gains in April have been lost over the past couple of weeks. The best cows this week have made in the 270c/kg range and very few of the best Angus feeder weight steers have remained firm at around 400c/kg. All other grades have seen falls.
While some global market influences are positive, the increased national herd means buyers do not have to compete as enthusiastically to secure stock.
On the Ground
Lambing is in full swing and with ample water availability for pastures, most will have a supply of pasture at least into the early spring. We look forward to late next month or early July as processors start to make an indication of price for new season lambs.
