Lamb prices healthy, bull prices creeping up

Lamb prices continue to climb, fetching good prices for farmers, says a rural financial expert.

Head of Livestock for Heartland Bank, Wayne McEntee said if farmers have a volume of lambs, they can expect more than $7.45 a kilo.

"That's up 15 cents on a fortnight ago, and you can put more pressure on processors if you have more lambs to sell," he said.

He said there had been no major movement in store lamb prices, which remain around $3.50.

Wayne McEntee said lamb prices continue to rise.
Wayne McEntee said lamb prices continue to rise. Photo credit: Newshub

McEntee said bull prices were looking good.

"That's gone up another 5 cents, so $5.20 per kg for a finished article there."

Another opportunity was the store cattle prices.

"Lower store cattle prices means a lot of farmers are sending those finished cattle away to slaughter earlier, then making the most of affordable replacements."

He said 13.4 million lambs had been processed for the annual kill.

"So that is bang on where we were last year."

Meanwhile, he said there was still a lot of wait time for processing, of between seven and 10 days.
Watch: Heartland Bank Head of Livestock, Wayne McEntee, updates the rural market on Rural Exchange