Market Talk - Rain brings price boost

MORE rain across much of the state, along with improved cattle prices, has made for a strong start to the final week of June.

Sheep and lamb prices have also held up well — in some cases not as high as the extremes of recent weeks, but still very good overall.

At Powranna on Tuesday, yearling prices lifted 5c to 15c/kg.

Yearling steers sold for 324c to 340c, while heifers made 304c to 340c.

A few secondary heifers went for 280c to 298c.

The small yarding of grown steers and bullocks made 304c to 350c/kg liveweight.

The standout was a lift in cow prices.

Heavy cows averaged 30c higher, making 280c to 306c (average 298c).

Leaner cows made 200c to 262c, and very lean types 184c to 200c/kg.

Notably, there were fewer very thin cows in the market compared with recent months. Cow prices at both Wagga and Mortlake on Monday were stronger.

At Mortlake, heavy cows made 310c to 360c, with medium types 270c to 310c.

Wagga reported heavy cows averaging 326c, with leaner types 222c to 294c.

Yard numbers were smaller at both centres, which may signal an easing in the oversupply that’s dogged recent months.

The next few weeks will tell the real story, with many experts predicting a major shortage of killable cattle as spring approaches.

Most interstate sheep and lamb markets were cheaper late last week and into this week, though prices remain strong — particularly for heavy mutton and lamb.

One of Australia’s largest sheep meat exporters, Fletchers, is halfway through a two-week maintenance shutdown and has been absent from the market.

Despite this, the impact has been limited — a positive sign.

While other export processors may cut a shift or day here and there, current sheep and lamb prices appear likely to hold — at least for now.

That outlook depends, of course, on continued willingness from overseas clients to meet the new price levels, and the ability of Middle Eastern markets to receive product, most of which is air-freighted.