NSW trade lambs average 934c/kg

Trade lamb averages 934c/kg, Merinos hit $277.50 a head.


Markets
Merino lambs sold to a top of $277.50 a head at Dubbo prime lamb sale on Monday. Photo by Rebecca Sharpe.

Merino lambs sold to a top of $277.50 a head at Dubbo prime lamb sale on Monday. Photo by Rebecca Sharpe.

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The NSW heavy lamb indicator hit 968c/kg on Monday, while Merino lambs sold to $277.50/head.

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LAMB prices show little sign of slowing down and in NSW the trade lamb indicator hit 934 cents a kilogram yesterday.

The NSW heavy lamb indicator climbed to 968c/kg.

At the same time, it appears some buyers are gearing up for even higher prices as agents have reported one new season lamb forward contract for August at 980c/kg to 1000c/kg.

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For those producers thinking of forward selling, the advice from some analysts is to hold out as there are already plenty of lambs in the saleyards making more than 1000c/kg.

With the rapid speed at which the market is rising we could hit an average of 1000c/kg before August.

But, even if prices don't continue to rise, 934c/kg (this week's average) is still a fantastic price and unlikely to fall dramatically in the near future.

And it's not just the prime second-cross lambs hitting sky high rates.

At Dubbo yesterday agents set, what they are claiming, is a new national record price for Merino lambs at the weekly sheep and lamb sale.

The run of Merinos sold for $277.50 a head.

Local agents CPS Thomas Ballhausen and Irvine sold the run of 222 Merino lambs on behalf of the Zell family, "Widgerie", Tooraweenah.

The lambs weighed up to 90 kilograms (liveweight), and averaged 74kg.

They were Glendemar Multi Purpose Merino blood.

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