Mutton prices on rollercoaster ride

More than 20,000 sheep were yarded at Hamilton and Wagga Wagga sales as prices fell back in a “very subdued” market. See the details.

Mutton rates have taken a hit as the rollercoaster price ride for sheep continues.

After big lifts last week of up to $30, producers swelled markets with today’s offering at Hamilton of 20,000 sheep more than double that of last week.

It had the predictable effect with prices losing all the ground of last week.

The National Livestock Reporting Service quoted most mutton sheep made 180-260c/kg carcass weight.

NLRS reporter Chris Agnew said not all processors were at the sale and even those that were there did not operate fully, causing prices to fall.

He described the market as “very subdued”.

The best crossbred ewes sold to $81 while the top Merino ewes made $73 while Merino wethers fared slightly better selling to $88.

There was a similar price fall in Wagga Wagga, NSW, today, where early sales were $15-$20 cheaper for the 23,600 sheep, a lift of 11,600 on last week’s offering.

Nationally, mutton yardings responded to last week’s price surge which began with a dear sale at Griffith, NSW.

Mutton prices lifted dramatically and numbers followed with the seven-day rolling average for yardings up more than 33,000 to almost 80,000 in markets across the nation.

The national mutton indicator today stands at 290c/kg carcass weight.

Today’s results come as Meat and Livestock Australia has predicted better times ahead for lamb producers, with trade and heavy lambs expected to increase in price in winter.

The national sheep flock is expected to decrease 2.9 per cent this year.

MLA market information manager Stephen Bignell said mutton production in 2024 would be the biggest in years.

“Mutton production will be the largest since 2006, set to produce 254,000 tonnes in 2024 up by 3.14 per cent on 2023 volumes,” he said.

“Production will remain elevated in 2024 due to a small lift to slaughter.”