Rural Livestock agents sell capital breeding ewes at Lee Ridges, near Outram, last week. Photo / Alice Scott
The timing was "a bit of a bugger" for Lee Stream's Rob Sutton at his stock clearing sale last week as the value of his capital ewe stock plummeted by about $70 a ewe.
Sutton and partner Patricia Morrison have sold their Lee Ridges farm near Outram.
Demand for the property's 2450 store lambs remained strong, averaging just under $100.
But bidding struggled to get over $200 for the 2100 Perendale Texel ewes yarded and overall they averaged $149.
Rural Livestock agent and auctioneer Rob Fowler said the price drop came in the wake of congestion at Chinese ports as that country's coronavirus health emergency put considerable pressure on New Zealand cold storage space.
Beef and lamb had been diverted to alternative markets, but there were few options for mutton because China was the main market globally.
Sutton remained pragmatic about the ewe prices.
"It is what it is. We just had to draw a line in the sand and let it be. This is the industry we are in. We are always at the mercy of the markets and this time it just didn't go our way. That's OK. We just keep moving forward" he said.
Farmer says he’s not just farming sheep any more, he’s “trying to farm worms”.