Lamb prices still on the decline
Lamb prices have continued to decline, with WA Meat Marketing Co-operative, Hillside, BRM, V&V Walsh and GEA Exports all lowering numbers last week.
Mutton prices over the same period, however, have remained relatively stable.
New season crossbred lambs were bid at $7, Merinos at $6.60 and hoggets and mutton around $4.80.
As is typical for this time of year, processors have been able to access plenty of stock and as a result have been reluctant to offer anything over their asking bid.
Beyond that, we should start to see some live export demand in the next few weeks which may add some support to the market.
On the East Coast, numbers have also been under pressure.
Crossbred lambs are back about 20¢ to $8 and Merinos at $7.30 in South Australia, Victoria and New South Wales.
Mutton is bid at $5.40 in South Australia, while it’s at about $5.80 in NSW and Victoria.
Forward contracts continue to book out indicating buyers have got good coverage into the coming months.
With this in mind, it is likely to stick to spot grids and saleyards for the residual unless they see a change in conditions or expect a shortage of stock further out.
Goat prices across the country have remained unchanged for the past week, being bid at $9.50 to $10 on the East Coast.
BRM are bidding $8 in WA.
For cattle we have seen a decline of 10¢ to 20¢ on most East Coast prices over the last week.
Grain-fed steers are now sitting around $5.90 in NSW and South Australia, while approaching $6 in Queensland, and heifers remain at a 5¢ discount.
Cows are being bid at $4.80 and better.
Feedlot prices for Angus steers in the east are around $3.40.
Other points of interest:
Audio reports are now available in the LIVEstock Pricing app — so there is no need to wait by the radio or go online the next day.
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