Lamb prices are up 90c/kg on this time last year, proving the spring lamb trade is continuing to perform well even in light of tight supplies.
A number of factors have been playing in favour of the sheep trade. For example, the tight supplies of lambs, as well as the diminishing number of hoggets, has really helped to strengthen prices over the last number of weeks.
This, coupled with strong demand that is being helped by other sheep-producing nations selling into other markets over the last two years, is helping to maintain a positive trade.
Comparing factory prices for lambs from this time last year to now, prices are stronger by anywhere from 75c/kg up to 80c/kg in the main, with prices stronger in cases by as much as 90c/kg at the top end of the market.
Furthermore, prices for what hoggets are still left and for cull ewes are well up on this time last year.
Despite the increase in input costs, it’s positive to see lamb prices in a stronger place than this time last year, when sheep farmers were in a different positions as factories were inflicting cuts in price for spring lambs.