SHEEP and lamb prices are on the way up again after weeks of weaker pricing.
The NSW Trade lamb Indicator climbed nearly 30 cents a kilogram (carcase weight) in the past week to settle at 792c/kg early this week.
Light lambs averaged 800c/kg across NSW - a hefty 94c/kg higher than at the same time a week ago. The biggest shift was for the Merino Lamb Indicator, which surged 105c/kg to sit on 763c/kg.
But even with the price rises, Nutrien Wagga Wagga agent Peter Cabot said the lift had not been as substantial as many lamb producers would have hoped for this time of year.
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"Most lambs are making about 800c/kg, but many would have been expecting a price closer to 900c/kg at this time of year," Mr Cabot said.
"Certainly we are not seeing the bigger price rises that normally occur in winter across the Riverina."
He said the supply of lambs was limited during December to February due to COVID-19 processor shutdowns and a with a good autumn break and wet winter that meant producers had plenty of feed.
He said that strategy had meant there were now plenty of lambs on the market, which was keeping a lid on prices.
Due to the season being so wet, the quality of the pasture finished lambs was not as good and, for many lamb producers, the economics of finishing lambs on expensive grain just didn't add up, he said.
"I expect there will be plenty of lambs on the market right through until the new season lambs start to enter the market," Mr Cabot said.
That's only about a month away and, although that's later than normal for the Riverina, Mr Cabot said the wet, cold winter would be reflected in the quality of the sucker lambs, too.
In a breakdown of price trends across the state, southern NSW markets for trade lambs averaged 806c/kg, which was well ahead of northern NSW, where the average was closer to 700c/kg.
The gap between north and south was even more evident with restocker lamb prices.
The average in the south was 928c/kg, while northern markets averaged 732c/kg.
Supply increased and lamb quality was mixed at the Forbes prime sale on Tuesday. There was a large percentage of plainer secondary types offered and this resulted in the market slipping.
In contrast, the plainer quality offering was slightly dearer further north at Tamworth on Monday, while Dubbo's lamb yarding varied with a good offering of heavy and heavy export lambs.
Shorn lambs with good finish were in demand and sold well. The usual buying group was operating, plus an extra southern exporter.
