Lamb prices took a hit, starting the week well into the red.
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Buyers wiped $10-$35 a head off lamb values as processors reduced their support for all well-finished types.
The rot set in late last week at markets such as Wagga Wagga, NSW, and Griffith, NSW, where rates were pared back $8-$15 across the board.
There was little supermarket backing and the major buyers such as Thomas Foods International, JBS and Fletchers International were quiet on the rails amid reports of plenty of stock around them.
The only company having a red-hot crack was Junee Meats, Junee, NSW.
The other red herring has been weak demand internationally for extra-heavy lambs.
Domestic processors are also reporting buyer resistance from households at the shop counter for all cuts of lamb.
At Bendigo on Monday rates were quoted $20-$35 cheaper despite some excellent lines of grain-assisted lambs.
According to Meat & Livestock Australia's National Livestock Reporting Service, buyers discounted lambs heavily that lacked good fat cover.
There were flat spots of bidding across trade categories, with plenty of sales well under 480 cents a kilogram carcase weight.
The bulk of the trade lambs sold from $90-$137 to average 504c/kg.
Bidding for heavy lambs was patchy as buyer participation became selective as the sale progressed.
Rates fell $25-$35, leaving agents scratching their heads at such big falls in prices over limited supplies.
The bulk of the category sold from $138-$186 to average 504c/kg.
Meanwhile, mutton was the only class at saleyards to improve this week.
Heavy sheep gained $15 at Bendigo, with the biggest ewes selling between $90-$135.
At Dubbo, NSW, lamb values declined in a bigger yarding of 17,850 lambs and 10,325 sheep.
Trade lamb rates were $10 cheaper, but it was mild compared to the price correction in Victoria.
Prices came in between $74-$132 to average 460-530c/kg.
The main lines of extra-heavy lambs softened $6 at the top end of the market.
Big, supersized lambs over 30kg sold from $150-$171 to average 471c/kg.
Hopes that the Ballarat lamb market on Tuesday would come out unscathed in a fair to very-good quality yarding were dashed, when buyers discounted all grades of stock.
Price drops of $20-$35 were common, with heavy lambs wearing the brunt of the cheaper trend.
Trade lambs averaged 503c/kg.
Heavy lambs sold at $132-$176 to average 501c/kg.
The mutton market still had solid support improving $5-$8.
- Leann Dax is an NLRS market reporter.
