With numbers down and grass aplenty, the demand for lambs is strengthening week by week.
Rarely do the good times roll in unison for all in the livestock game.
In the current climate, sellers and livestock agents are smiling, while the meat companies and individual buyers are downcast.
But then again each gets a turn as the sheep and beef rollercoaster ride continues.
There is grass all over the North Island, and with grass comes strong livestock markets.
"I can't remember when I last saw the store lamb markets so out of kilter with the killing price," independent Whanganui livestock commentator David Cotton said.
"It's making it hard for the lamb traders to achieve a decent margin. Although I have to say, it is great to see the breeders finally getting a return for breeding store lambs."
With the wool income non-existent on hill country stations, breeders are reliant on receiving a fair and reasonable price for their store lambs.
"The normal price would be about 40-50% of the killing price. With the killing price at $5.70 you would expect the store lamb price to range from $2.40/kg/$2.85/kg live weight, but the current market just keeps on going up and up," Mr Cotton said.
"Last month I reported that the market would lift from $2.20/kg to $2.90/kg by the end of March and now that has lifted again to well over $3/kg. The average was over $3.20/kg at Stortford Lodge last week, up a massive $1/kg on this time last year.
"I had clients turn down store lambs last month saying they were just too dear at $2.70/kg.
There is no lack of confidence in any of the store markets. Every day my email is full of
agents around the North Island looking for quotes on anything with four legs.
Those same buyers are now back in the market and are having to pay over $3/kg to source store lambs. The grass is growing and blowing in the wind while the green feed cropping farmers are now also hitting the market and the demand for lambs is strengthening week by week.
"If you read all the experts pre-Christmas predicted the lamb schedule to be down to $4.50-$5 with even lower contracts coming out at $4.60 pre-Christmas. It is interesting how often the experts can get it wrong."
Meat companies were even publishing lamb contracts for April/May, desperately trying to secure stock to kill. However, the level of these contracts at between $5.60 and $6/kg below the current price being paid in the sale yards.
"It will be interesting to see how many takers they get at that level." All livestock is in demand. Even poorly bred sheep or cattle are making excellent money.
"There is no lack of confidence in any of the store markets. Every day my email is full of agents around the North Island looking for quotes on anything with four legs, particularly the cattle market where last month's weaner fairs broke new records.
Many lines were making more than $100 up on last year, and the light traditional weaner steers at 160kg breaking through the $4.60/kg mark.
"But that was well and truly eclipsed at Feilding on Wednesday last week when steers around 169kg fetched $5.27/kg ($895) and then later in the sale some lighter stock about 130/kg sold for $6.60/kg - amazing.
"It is satisfying to see the people that have stuck with breeding cows over a number of years and received some pretty poor prices, finally get a good return on their investment," Mr Cotton said.
"Anyone knows that with breeding cows you don't get 100per cent calving, and with breeding cows being worth $1500 a head, they still fall off the hill and die, so you need a decent weaner price to balance the budget.
"To sum up, with the lack of livestock that is creating several pressure points in the market, a number of farmers will not kill or sell their stock until they have sourced replacements because being back in the market a fortnight after you have sold could destroy any trading margin.
"I would describe the current market as a dream market for any vendor and livestock agent, but an absolute nightmare for meat companies and anyone wanting to purchase livestock at the current level."¦