OPINION: Buyers raise bids up to new highs
The crossbred and Merino lamb market public grids took off at the end of last week with most buyers increasing their bids to new highs.
crossbred lambs are now bid at $7.30 with Hillside and V&V Walsh, closely followed by WAMMCO and Beaufort River Meats at $7.20.
Public feedlot and store numbers also jumped after several weeks of trading privately at higher than published numbers.
The jump in numbers can be put down to a combination of East Coast market strength and the appearance of JBS at WA saleyards last week.
Given we are heading into winter, it is likely we would have seen the traditional increase in prices anyway, nonetheless buyers need more stock moving east.
This made the transition more abrupt than many were expecting.
Mutton and hogget numbers on the other hand were relatively unchanged.
The State now is waiting to see if the fronts this week bring the rain required to ease concerns about feed availability for new season lambs and stock on farm.
As mentioned above, east coast prices also showed a lot of strength last week.
Thomas Foods (South Australia and New South Wales) and Frews (Victoria) all had higher prices for lambs, hoggets and mutton.
The start of this week has seen increased yardings in response to high prices over the past few weeks and a public holiday next Monday.
This appears to have put some pressure on the recent upward trend in prices.
Assuming prices in the east remain at current levels, the jump in WA’s prices has tightened the east-west spread significantly.
For cattle, east coast markets have held firm. Teys increased its South Australia grids while Thomas Foods held firm on both processor and feedlot numbers.
Meanwhile, saleyard reports are now available on the LIVEstock Pricing app under Menu > Market Update Settings.
Turn on updates for your local saleyards to get notifications when new market reports are available.
Rob Kelly is the founder and managing director of LIVEstock Pricing, a free service with the latest sheep, cattle and goat price grids in one easy-to-use app.
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