Australia: Mutton prices plummeting as saleyards are flooded with sheep

Mutton

Lamb

Meat

Australia

Market & Price Trends

Published Mar 7, 2024

Tridge summary

Mutton prices have significantly dropped by 65 cents a kilogram carcase weight in the past week and 68c/kg in the past month, marking a 50% decrease compared to the same period last year. The decline, which began when selling centres were inundated with all grades of sheep, continued despite smaller yardings of mutton this week. The surge in supply is attributed to the current dry autumn. Meanwhile, prices for trade and heavy lambs have remained stable or slightly increased.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Mutton prices are plummeting, stripping the market of its value daily. The benchmark mutton indicator has dropped 65 cents a kilogram carcase weight in the past week and 68c/kg in the past month, now tracking at 240c/kg or 50 per cent lower than this time last year. The decline began last week when selling centres were flooded with all grades of sheep. On Thursday at the major regional centre of Wagga Wagga, NSW, prices took a dive of $30-$40 a head, with few sales reaching above $100. The bulk of the yarding averaged 200-240c/kg. Despite smaller yardings of mutton early this week as producers reacted to previous price drops, rates kept falling. In Corowa, NSW, prices fell significantly, with some categories seeing rates tumble by $60. Heavy crossbred ewes weighing more than 30kg were selling from $60-$68, averaging 196c/kg. Just over the river a few 100 kilometres away in Bendigo, the National Livestock Reporting Service reported a late collapse of $50 in the market, after ...

Source: Farmweekly