LAMB prices showed some slight positive movement on AuctionsPlus last week, but clearances remained very subdued, especially for crossbred lambs.
AuctionsPlus commercial sheep and lamb listings rose 12 percent to 33,374 head.
The larger overall offering was met with subdued buyer interest, with clearances at auction well below average, eventually climbing to 33pc, AuctionsPlus said.
The lower auction clearance is consistent with a value over reserve that is negative, given 71pc of the sold lots were secured post-sale, the online marketer reported. This is an indication of the state of the market where vendors are having to accept prices less than their reserve, AuctionsPlus said.
After a slow new season lamb turn-off that has ebbed and flowed, 8800 young lambs were offered this week. Listings came from South Australia, Queensland and New South Wales, and recorded an average value over reserve of $7/head. AuctionsPlus said the 29,538 head of new season lambs listed so far in 2023 is 28pc lower than the figure for the same period in 2022 and 61pc behind 2021, showcasing the indecision in the current market and the high supply that remains on farm.
Only 14pc of the 7480 crossbred lambs were sold, the average price rising $1 to $74/head. At Bourke in NSW, 485 March-May 2023 drop mixed sex White Suffolk-Merino lambs weighing 35kg lwt sold for $70/head, or 197c/kg, to a buyer in Picola, Victoria.
AuctionsPlus sold 46pc of the 2868 Merino ewe lambs offered last week, for an average price of %79, up $6. At Spalding in South Australia, 280 June-July 2022 drop Poll Merino lambs weighing 44kg made $110.
The average price for the 1084 first cross ewes offered remained firm at $182, up $1. At Tullamore in NSW, 300 12-13 month-old ewes weighing 62kg sold for the top price of $190.
Note: Prices as at 5pm Thursday, 10th August 2023
Source – AuctionsPlus.