Sheep producers are enjoying a spectacular year with lamb and wool prices in stellar territory.
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Hamilton Stock Agents Association president Health Templeton said prices for heavy export lambs weighing between 30-32 kilograms hit a record $240 a head at Hamilton last week.
Mr Templeton said a large proportion of the lambs being put through the Hamilton yards were selling for $6.80-$7.20/kg carcase weight with store lambs selling for even more.
He said a national shortage of heavy lambs and good seasonal conditions that had prompted lots of demand from restockers were fuelling the big prices.
Restockers were looking for lambs weighing between 20-45kgs, Mr Templeton said.
Andrew Gunn of Hamilton agents Kerr & Co said the lamb market was in unprecedented territory with terrific prices being paid.
“We have never seen prices like this at this time of year,” Mr Gunn said.
He said while there was no lack of supply of lambs in southern Australia, there was a national shortage.
Byaduk North lamb producer Tony Fleetwood said dry seasons in northern NSW and Queensland were the main cause of the national shortage.
Mr Fleetwood said lamb prices were above those of last year and the 165 millimetres of rain that Byaduk North had received since November 1 had provided conditions that were “fantastic for finishing lambs.”
Hamilton Regional Livestock Exchange manager Chris Dahlenburg said the saleyards’ throughput between November 1 and this week was expected to reach 346,000 spring lambs, putting it on par with last year’s throughput.
Numbers for November to December were expected to reach between 400,000-450,000, Mr Dahlenburg said. He said big numbers of spring lambs had been yarded this year a few weeks earlier than last year.
Wool growers are also receiving some of their best returns in decades with the AWEX Eastern Market Indicator hitting an all-time high of 1681 cents a kilogram in November.
The Rural Bank’s latest Australian Wool Update said the record high contributed to the 30 per cent jump in wool prices year-on-year and an exceptional three and a half years of growth for the industry.
The bank said wool production was likely to remain historically low at 340 million kilograms in 2017/18 and the slow process of increasing flock sizes meant prices were likely to remain up for some time.
Key drivers for the high prices were increased demand from China and for superfine wool in high quality clothing, the bank said.
