The national mutton indicator again reached new highs at saleyards a week ago, averaging 426¢/kg (carcase weight) according to Meat and Livestock Australia, but have declined this week.
MLA reports that the highs eclipsed the previous record achieved during mid June 2010.
Current prices are 90¢/kg higher year-on-year.
Mutton prices have averaged above 400¢/kg since the June long weekend, despite reduced competition due to recent annual maintenance breaks by export processors.
MLA says this current strength can also be demonstrated by comparing mutton prices with national trade lamb prices, which averaged 374¢/kg in November 2009.
The long liquidation of the sheep flock appears to be slowing, as producers look to re-establish sheep and lamb enterprises where possible.
However, with the decent winter rain providing confidence for producers in the eastern states, supply can be expected to remain tight.
MLA says in the week just gone, mutton prices were cheaper nationally, falling 17¢ to average 410¢/kg after Thursday’s markets.
Prices were strongest in Victoria at 434¢, while some wet and cold weather restricted WA throughput, which contributed to mutton averaging 398¢/kg.
NSW prices slipped 28¢ to finish at 407¢/kg, which was primarily a reflection of the price spike registered at last week’s Wagga market.
Sheep prices were relatively firm this week in SA, with most mutton pens selling around 380¢/kg.
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