Movement in the mutton space

Meat & Livestock Australia markets information officer Stephen Bignell said last week saw prices increase by around 50 per cent and supply also up by 50pc in Western Australia.

"That's interesting given where the sentiment of the industry is at the moment," he said.

"We know that prices do tend to increase during this time of the year but that's because supply goes down.

"So we've seen supply lift week on week and prices really lift in WA.

"WA coming up has really helped pull that national mutton price up."

WA mutton prices ultimately lifted 37c to 173/kg cwt, the highest mutton price the state has seen since August 2023.

At Katanning, processor demand drove the price from 100c to 140c, with heavier weights commanding the firmer prices.

However WA prices are still up to $2 cheaper than those being seen in eastern states.

The highest mutton prices have been seen in NSW, with Wagga Wagga averaging 342c and contributing 28 per cent of the mutton numbers, while Dubbo, the saleyard with the next biggest yarding saw an average of 304c.

Victorian average prices range from 291c at Hamilton to 307c at Bendigo while Queensland prices are averaging 234c at Warwick and the South Australian Livestock Exchange saw an average mutton price of 287c.

Mecardo market analyst Angus Brown said it was positive to see the national indicator bounce up a bit but he thought there was a limit to how much further it might rise

"It's that time of year when supply starts to tighten and it's having a bit of a rally back above 300c," he said.

"Hooks prices have been there for a while but the indicator takes a broad range of mutton into it so some of those lighter ones can drag it down.

"WA is still about $1.60 behind the east coast despite having come up.

"Rising east coast prices will do that... I have heard there's still quite a few sheep coming this way so it will give their price a boost, if the local processors are losing them to the east coast."

Mr Brown said quality is continuing to be a key factor behind significant price discrepancies in both the lamb and the mutton market.

"They're looking for reasonable quality and they're happy to pay for it, but anything that's out of spec they're discounting heavily," he said.