Reduced buyer tenacity results in new season lamb prices declining

Mixed-suckers-Molong

These Poll Dorset cross suckers, 35kg, from Grenfell, NSW, sold for $165.50.

New season lamb numbers totalled 106,046 head last week, with mixed results across the six categories, as lighter lines and reduced buyer tenacity resulted in decreased clearance rates.

Crossbred lambs totalled 49,571 head – 33% of the total catalogue. A majority of the crossbred lamb offering was spread across Victoria (42%), NSW (32%) and SA (26%). Prices ranged from $103-$190, to average $152/head – back $11 from there previous week.

The crossbred lamb market lacked buying depth at auction this week, with clearance at the conclusion of the sale only hitting 41%. Negotiations following the auction bostered the clearance rate to 62% – albeit still reduced from last week 71%.

Merino wether lambs had a total offering of 18,070 head – 12% of the catalogue. Prices for the category averaged $138/head – slipping $2 from last week. Demand for heavier, high quality lines was apparent, with the category achieving a 50% clearance at auction, with a further 17% of the offering selling post sale.

First cross ewe lambs totalled 13,264 head this week – 9% of the total offering. Prices for the category averaged $240/head- slipping a further $7/head as the category recorded its fourth consecutive week of price reductions.

Merino ewe lambs had an increased offering this week of 9,060 head, with South Australia accounting for 92% of the offering. The category averaged $190/head – up $8, recording its third consecutive week of price increases.

However, results for this category must be interpreted with caution, as the category returned an unusually low clearance rate, at only 10%, as vendors set reserves well beyond buyers willingness.

Merino wether lambs presence increased this week, with a total of 5,326 head offered – 3% of the catalogue. Prices for the category ranged from $101-$172, to average $144/head – back $5 with clearance rates at 75%.

Joined ewes again remained sparse this week. Non station mated Merino ewes and ewe hoggets continued to account for a significant amount of the catalogue – offering 11,041 head and 14,038 head, respectively. NSM Merino ewes averaged $231/head for the week, while hoggets averaged $263/head – both categories averaged $11 higher.

-AuctionsPlus

UPCOMING SALES / EVENTS
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