AUSTRALIA-DEMAND FOR MUTTON.
As sheep supply dwindles and mutton demand intensifies, heavy weight OTH sheep prices hit 280ยข/kg cwt in NSW and Queensland this week โ the highest prices since July 2007.
Competition between processors, restockers and live exporters has remained intense as they tried to secure supplies.
Direct to works prices for heavy sheep in Victoria settled 31ยข higher year-on-year, at 210ยข, while NSW rates were 26ยข dearer, averaging 233ยข/kg cwt.
Direct to works rates in SA also climbed 30ยข year-on-year, to average 190ยข/kg cwt.
While heavy sheep prices in WA lifted 49ยข year-on-year, to average 159ยข/kg cwt, they were well below average saleyard prices paid at MLA’s NLRS reported WA saleyards.
The largest price rise during the week was recorded in Queensland, where heavy sheep averaged 280ยข/kg cwt โ up 80ยข year-on-year.
Generally, quality was mixed, with the best quality sheep coming from southern Queensland and northern NSW.
Light and medium weight sheep numbers increased in the southern drought areas as producers offload stock before winter.