SHEEP prices are definitely heading in the right direction, but are still a fair way off the heady heights of 2011, if you look back at recent results from the Naracoorte first-cross ewe lamb sale.
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On Thursday last week there were 30,418 ewe lambs yarded at Naracoorte, with the sale grossing $4.82 million.
The top price of $230 went to former Border Leicester breeder Bronte Mumford, ex-Brontannia, Minlaton, with a line of 160 from Glencorrie sires and Murkaby dams.
One of the most noticeable aspects of the sale was the lack of bottom-end buying.
Anyone attending and hoping to pick up a bargain would have been sorely disappointed, with an overall average of $158 achieved.
That average was $20 up on last year's sale, when it was $138, and the top was $22 up, compared to $208 in 2014.
The overall gross was also about $250,000 higher than 2014, when it was $4.57m.
While the prices achieved this year were a very healthy result, some farmers remarked that it could have easily been a record sale, if it wasn't for much of the South East and western Vic being in drought conditions.
Many specialist first-cross ewe lamb producers had their best payday back in 2011, when the first-cross ewe lamb sale grossed a whopping $6.52m, averaged $204 and topped at $288.
But, the following year there was a sharp correction, with the sale grossing $3.8m, averaging $119 and making to $182.
Since that time, there has been a steady climb upwards.
Thomas DeGaris & Clarkson's Darren Maney said this year's sale met expectations.
"It was extremely solid from start to finish, with little variation in it," he said.
"I'd say 85 per cent of the yarding sold from $140 to $175. Even the secondary lines made $120 to $140.
"I think it represented good returns for vendors and sensible purchase prices."
Pinkerton Palm Hamlyn & Steen's Robin Steen said it was a very consistent sale.
"We didn't have the top-end we'd normally have, because of the season," he said.
"But, we had a very good middle run of lambs that made between $160 to $180.
"The bottom end held up very well, and actually strengthened as the sale went on, and made $125 to $140."
Meanwhile, looking at cattle, last week this column reported on an unprecedented surge in the Eastern Young Cattle Indicator in the past few weeks.
As the Stock Journal went to print last week, the cattle indicator hit another new record.
It was only 0.25 cents higher than the September 29 high, at 595.5c a kilogram carcaseweight, but it was still a record nonetheless.
The next thing to watch is when it will hit the $6/kg mark.
