Livestock producers with stock to sell were in the box seat this week with near-record rates continuing across many sheep and lamb categories, and cattle prices firm.

Sheep and lamb rates continue to shoot up amid tight supplies, and while the cattle market is also at elevated levels, the rain-inspired rally of recent weeks appears to have moderated buyer enthusiasm in recent days.

Elders national livestock manager Peter Homann said that the “livestock job is still strong”, as sheep and lambs continue to be in high demand amid concern about numbers in the future.

“Cattle are still firm but there may have been a small come-back in prices there, and it is still very dry in northern NSW, where there are massive store sales this week,” he said.

“Queensland has had rain, as have some areas in the south, but there really is a vacuum of good rain in NSW; Gunnedah, Tamworth areas.”

Mr Homann said that in about three weeks there would be more cattle price movements “when Queensland dried out”.

And although prices remained very good, producer confidence was being affected by external pressures – high fuel prices, as much as shortages, and uncertainty over fertiliser supply and rising costs, he said.

StoneX analyst Ripley Atkinson agreed, saying this week that markets “hate uncertainty”, which was driving unease in the sector, with concerns about the impact on freight rates and costs in the supply chain.

He said feedlot business would feel “some margin pressure” on their key input prices.

However, for those selling this week, big rewards were still on offer, especially for those with surplus sheep.

They received prices almost double what was on offer just 12 months ago.

Mutton was this week back to near record territory as processors scramble for supply, pulling cents per kilogram rates of around 900c/kg at Bendigo, in places, rates normally reserved for prime lamb.

Lamb prices continue to be strong, with high demand for light lambs seeing sales online of up to 1377c/kg carcass weight last week, the highest level recorded, according to Meat and Livestock Australia.

And there is also positive news for those selling breeding ewes with rates of up to $460 for scanned-in-lamb ewes buoying a market that has been underperforming.

On cattle, the flush of optimism seen following good early autumn falls in many areas of southern Australia appears to be now subdued.

According to the National Livestock Reporting Service, saleyard indicators for cows, heavy steers and feeder steers and heifers were all slightly weaker.

But grown steer prices remain near record levels, with the national saleyard average tracking at 464c/kg liveweight, equal to the best prices seen in the market in the past year.