Australia Day boosts lamb market
A MARKETING campaign encouraging people to eat more lamb this Australia Day has been credited with causing a lift in local lamb prices.
Lamb prices started off the year strong, with substantial increases occurring week on week at the VLE Leongatha sale.
SEJ stock agent Bill Egan said prices for lambs continued to lift across the board last week, a trend he expected to persist.
“The lamb market is generally very strong. There are not a lot of lambs around South Gippsland now, compared to what there used to be, and demand is strong,” he said.
At last Wednesday’s sale at VLE Leongatha, the top pen of lambs sold for an average of $168, an almost $20 increase on the previous week.
With around 2400 lambs yarded, numbers for the first few sales of the year have held steady.
Mr Egan said Meat and Livestock Australia’s annual Australia Day promotion also impacts on the price of lamb.
“Wholesalers experience a big demand for lamb at this time of year, so they need to get themselves in a position so they have got it to sell,” he said.
Elders stock agent Rohan McRae said the lamb market was improving Victoria wide.
“Both the lamb and the cattle market opened the new year stronger than prior to Christmas due to a lack of supply and strong demand,” he said.
Mr McRae said it looked like prices for lamb were holding firm after last Wednesday’s market, also citing the Australia Day lamb promotion as a factor.
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