SHEEP AND LAMB PRICES HIT RECORDS AS SUPPLY TIGHTENS

The latest data from Meat and Livestock Australia shows Australia’s sheep and lamb market experienced an eventful winter, with tight supply driving strong competition between restockers and processors.

According to MLA, widespread rainfall across much of southern Australia, including some drought-breaking falls, gave producers greater confidence to begin rebuilding flocks after years of feed and water scarcity.

The renewed optimism drove strong restocker demand, while lower meat protein supply supported strong processor demand for both lamb and mutton.

Several market indicators reached record levels, with the Trade Lamb Indicator hitting 1244 cents per kilogram carcase weight in July, while the Mutton Indicator reached 916 cents.

South Australia recorded particularly tight supply, with winter lamb yardings down 44 per cent on last year and sheep yardings falling 51% to the state’s lowest level on record.

MLA says prices have since eased from their winter highs, but tight supply continues to support demand. Improved seasonal conditions are expected to support a stronger lambing season, although rebuilding the national flock will take time.