June 2010
The lamb schedules continue their winter rise, and marketing programs are reported to be encouraging, especially in the North American and UK markets, where importers are holding stocks for priority customers.
Good news from AFFCO whose half year profit lifted 53% on the back of rising prices for lamb.
The IRD released its average market values for livestock and ewe values were the highest for the last 10 years, and reflect the national shortage of sheep numbers driven by drought and dairy conversions.
But sheep prices wiil need to follow Australia's record prices if the industry is to reverse the exodus to dairy.
The trend is rising .
The schedule is about 79c/kg behind last year but now is rising. The currency has now weakened with the US$ now at .68c and the Pound to .46p and the Euro at .55.
Prime lambs in the southern saleyards are selling over the $100 mark, but northern values are still in the $90’s.
Strong store lamb prices have seen the supply continue, and tight feed conditions have allowed farmers to quit profitably.
Skin and wool price levels have improved in the last month, as a global shortage has buyers scrambling for stocks.
Mutton schedules again increased to yearly highs, and some of their cuts reached long-term highs as shortages out of Australia respond to demand.
Wool Prices
Prices were maintained at last weeks yearly highs and reflect the global shortage of wool. Wool Partners International reported that their wool strategy was gaining momentum, and some big deals with buyer groups were being negotiated.
Wool Grower Holdings, which plans to become a supplier-owned co-operative, was finalising a prospectus for sheep farmers and is due to be released soon.
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