Agriculture
27 December, 2023
Market optimism going into break
INDICATIONS were that heavy lamb prices would stay good after recent market recovery, said president of Bendigo Stock Agents’ Association, Chris Nevins. Mr Nevins said good quality lambs had sold well at the final Bendigo market of the year this...
INDICATIONS were that heavy lamb prices would stay good after recent market recovery, said president of Bendigo Stock Agents’ Association, Chris Nevins.
Mr Nevins said good quality lambs had sold well at the final Bendigo market of the year this week. “Things are looking pretty bright.”
He said farmers across the region had been selling their top draft and keeping second drafts because of good feed in paddocks.
“Once they get their crops off and have stubble for stock to graze, that will be another bonus,” he said.
“All the indications are that prices will be good after the break ... things are looking bright.”
Sheep prices have taken a tumble in 2023 after reaching highs last year.
However, there has been gradual recovery in recent weeks.
Mr Nevins said in October that a greater kills capacity at abattoirs was helping with price recovery. “Rising lamb numbers and rising prices is not something you usually see – it has got to be linked to kill capacity as nearly all the buyers are in having a go at the moment,” he said.
However, Mr Nevins said there were not indications of an upswing in cattle prices with large yardings expected in the new year.
“And there will be special weaner sales that will test the market,” he said.
The benchmark Eastern Young Cattle Indicator has ended the year at 534 cents a kilogram carcass weight, down 367c/kg on last year’s close but 83c/kg higher for the month.