MLA says this suggests the seasonal winter peak may have been reached for sheep and lamb prices.

LAMB AND MUTTON:

Lamb and mutton prices remain buoyant and well above recent those of years.

Lamb prices rose slightly for heavier finished categories this wee.

But they fell slightly on lighter categories, leaving trade and heavy lambs up around 10pc on last year’s.

Light categories this week sold over 20pc higher.

MLA says lamb prices continue to be buoyed by lower numbers and strong export demand.

After reaching a record 306¢/kg cwt two weeks ago, the national mutton price indicator retreated a further 11¢ this week, to 289¢/kg cwt – but still 50pc higher than last year’s.

These values are still considered remarkably high and reflect the lack of cull ewes and wethers left on farms, the recent southern rains and continued strong live sheep and mutton demand from the Middle East.

BEEF CATTLE:?The contrast between the beef and sheepmeat categories, however, this week remains stark.

MLA reports that cattle prices remain weak, especially in view of the recent widespread rains and the year-on-year fall in the $A, when compared with July last year.

For cattle, while the eastern young cattle indicator (EYCI) has lifted 3¢/kg this week, other cattle categories fell by 2-5¢/kg cwt, reflecting continued weak export interest and with a rising $A mostly offseting any benefit of the recent rains.