Australian sheep producers continue to achieve record high prices off the back of strong export demand and tightening supply, according to Rural Bank’s Lamb and Sheep Meat Review.
A tightening supply in June has caused the Eastern States Trade Lamb Indicator to reach a record high of 712c/kg, with prices expected to remain stable through winter, before easing in spring.
The price of lamb and mutton exported in January to April 2018 also increased by five and 3.5 per cent respectively, due to increased slaughter rates and higher export volumes.
This follows strong export volume growth in 2017 which saw the industry’s value rise by $622 million to reach $3.7 billion. Strong demand from the US, China and the Middle East continues to support higher prices.