Sheep prices nearly doubled off a low base at Bendigo

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Modest decline in lambs supply down to 19,495 head, however sheep numbers were almost halved. New season lambs are now dominating with only a few thousand old season in the draw. On the demand side, two key southern processors were absent. In the lamb run competition favoured heavier stock. New season lambs over 26kg cwt were $3 to $8 dearer, while the general pool of domestic trades were just similar to $5 easier. The heavier young lambs were trending around 500c/kg to be at a dearer price point to the trades. The stronger demand for heavier lambs also rolled into the old season run with prices considerably dearer despite plain quality at times.

A few pens of export weight young lambs 30kg cwt plus from $152 to a top of $160. Most of the lead young lambs were in the 26-30kg cwt range and sold from $124 to $154 to average $140. The bulk of the numbers were in the tradeweight categories. The main run of 22-24kg cwt young lambs $101 to $122 to average $110 at an estimated 470c/kg cwt. It should be noted, however, that there was a price spread of around 400c to 500c over domestic weighted lambs. Lighter processing young lambs mostly $60 to $90/head. Better lines of small store lambs were dearer at $31 to $61/head averaging $54 to the paddock. Ballarat restockers paid to $112 for trade sized lambs to shear.

The sheep market recorded a big turn-around, prices nearly doubling off their low base of a week ago as they gained up to $25/head. Heavy crossbred ewes $42 to a top of $70, with most mutton from $30 to $50 as rates improved to track between 120c to 200c/kg cwt. The bulk of the sheep were estimated as costing processors from 140c to 180c/kg cwt.

https://www.bendigo.vic.gov.au/Services/Bendigo-Livestock-Exchange