The national light lamb indicator increased by 114 cents a kilogram and the national mutton indicator broke a record, the National Mutton Indicator jumped more than 65 cents a kilogram carcass weight in a week, which according to Meat and Livestock Australia is a record."We saw prices shoot up at Bendigo in Victoria at the start of the week, driven by the forecast of rain," he said.
The benchmark Eastern Young Cattle Indicator rose by 6 cents, which is the EYCI's first weekly rise since mid-August.Producers will be hoping the bottom of the market has been reached for 2023 and it seems that could be the case for mutton.The spring flush is yet to hit top gear and when new season lamb numbers rise in Victoria around November, it is expected to put further pressure on prices.
"If you look at our returns this year compared to what they were 12 months ago, they have just been decimated, and it's purely down to pricing and demand."About 95 per cent of Australian mutton is exported and the latest monthly data shows China continues to be the biggest customer, taking 66,547 tonnes so far this year.
"The sheep meat market in the Middle East is very price-sensitive and competitive, so the relatively cheaper Australian mutton seen this year has provided a boost to trade volumes," he said.