MLA Mutton price data shows prices fall to new six-year low

The Eastern States Mutton Indicator last week closed at 308 cents a kilogram carcase weight, which equates to a 80c/kg drop week-on-week.

Interestingly, at the close of trade last week, NSW was the major culprit to the big fall, with their indicator resting at 291c/kg cwt.

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While mutton prices have traded above 360c/kg in recent weeks according to data from Meat & Livestock Australia's National Livestock Reporting Service, the highest the indicator has ever reached was 651c/kg in June 2022.

The steep slump in mutton rates is most certainly a reflection of the bigger supplies and low demand globally.

At the Wagga Wagga, NSW, prime sheep and lamb sale last Thursday, sheep numbers lifted to more than 35,000, the NLRS reported.

Heavy Merino ewes sold from $165-$105 a head, while crossbred ewes topped at $120 with most averaging 288c/kg cwt.

In the interim, lamb prices were similar to last week's rates.

Trade lambs topped at $192 to average 790c/kg.

Heavy lambs were well supplied and made from $214-$299.

Secondary well-bred lambs were keenly sought, with several interstate and local orders in place.

The bulk of the store lambs made from $112-$174

Market signals out of NSW late last week suggested mutton prices would weaken and had a carry-on effect into Victorian markets again this week.

Lamb numbers at Bendigo lifted by 900 to 15,600 along with 6070 sheep.

Quality improved with better runs of shorn lambs and some agents did have drafts of well-finished supplementary fed types.

Trade lamb categories recorded slightly dearer trends in an erratic sale to average 814c/kg cwt.

Big heavy lambs struggled for competition leading to a cheaper trend of $8-$15 to average 761c/kg cwt.

Sheep prices took another nosedive, with rates slipping back $20-$45.

The bulk of the heavy mutton sold at $56-$121 to average 218c/kg cwt.

At Ballarat on Tuesday, lamb numbers dipped by 17,194 to total 28,996 as the selling season reached midway.

Quality was very mixed with a wide-ranging selection of restocking types.

Lambs to feed on were keenly sought and sold to a top price of $185.

Trade lambs at Ballarat sold to stronger demand gaining $10-$25, making from $144-$220 to average 859c/kg cwt.

Big, heavy lambs averaged $270 and reached a top of $295.

The mutton market sold to increased competition and put some fire into trade and heavy categories, lifting $8-$12.

Heavy Merino ewes sold from $72-$115 and heavy crossbred mutton sold from $82-$145.