Eastern lambs at a premium over WA but market stable
Eastern States’ crossbred lamb values are still trading at a premium over WA prices in what has remained a stable sheep market.
The crossbred lamb market on the east coast is at about $8.70 to $9, while in WA crossbreds are still being bid at $8.
Feedlot prices are still strong in WA, with crossbred prices on farm of $3.60 and Merinos at $3.50 via Glenpadden Feedlot at Kojonup.
In addition to this, there is still a lot of east coast demand for re-stockers and a lot of stock heading across the border.
On the east coast, most buyers have more than enough stock for the time being.
High prices and uncertain international demand are making it hard for all buyers to take positions without also significantly increasing risk.
Goat prices had another down week.
Depots across the east coast continue to lower their liveweight prices.
Processors have also been lowering their prices.
Cedar Meats in Victoria are now bidding $7.70, down 80¢ on the prices from a week ago.
Cattle markets on the other hand have started to show some support this week.
Teys International has increased its over-the-hook prices in every State, including a hike of as much 40¢ in some cases. Feedlot prices have remained stable.
Internationally, the major news in beef markets is the impact of COVID-19 on United States processors.
Many have had to reduce throughput to manage the impact of employees falling ill and the result has seen a big drop in volumes.
The flow-on impact is being seen already, with a reduced number of cattle on feed, which will in turn reduce their supplies in the future when things begin to return to normal.
Rob Kelly is the founder and managing director at LIVEstock Pricing, a free service with the latest sheep, cattle and goat price grids in one easy-to-use app.
Get the latest news from thewest.com.au in your inbox.
Sign up for our emails