Prices for slaughter lamb and mutton are expected to remain strong through winter, with Australia exporting a record-breaking 36,754 tonnes in May. Meat and Livestock Australia (MLA) reports that the national price indicators for heavy lambs, trade lambs, and light lambs are all at record highs, with recent numbers showing that sheep and lamb prices are up an average of 316.5c from 2024’s prices.
Record-Breaking Prices at Saleyards Across Australia
Saleyards across Australia have been setting new records for lamb prices:
- At Bendigo, 30 kg-plus lambs sold for a new centre record of $426.
- Dubbo agents set a new centre record of $386 for extra heavy lambs.
- Deniliquin saleyards set a new all-time high of $311 for extra heavy crossbreds.
- At Wagga Wagga, a pen of 131 cross-bred lambs sold for $424 per head.
- In South Australia, extra heavy Merino lambs set a new saleyards record price of $390 at the Dublin Livestock Exchange.
- At Griffith, heavy lambs reached up to $431 per head, setting a new national record (at the time).
Veteran agents continue to be stunned by the growth.
“We haven’t seen anything like it, the lamb market is as dear as it has ever been,” noted Peter Cabot, a Wagga-based livestock agent.
“And it’s not just those extra heavy lambs making over $400, it’s any lambs that are fat and presented well that are selling extremely well.”
Overseas Demand Driving Lamb Prices
The continued rise of lamb prices, bucking the usual drought trend, can be attributed to strong overseas demand.
“The demand is there and the supply can’t fulfil it,” Forbes-based agent Jack Rix told ABC Landlin.
“The dry weather down south in Victoria, South Australia, and southern NSW has forced a lot of people to sell, and because the processing market has been strong, there’s not a lot left.”
In 2024, Australia exported a record amount of lamb, almost 360,000 tonnes. MLA expects this year to return an even higher number, currently tracking for a 2% increase.
The United States remains the biggest customer for Aussie lamb, followed by China.
Mr. Cabot is one of many who expect lamb prices to remain strong through winter.
“I just can’t see how it can come back too much at this stage,” he said.
“There’s just so little supply and obviously with all these abattoirs going flat out, I think it’s going to be a very positive time for anyone that is producing sheep and lambs.”
Sources: ABC, Sheep Central