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Lamb prices reach record highs

The price of lamb hit record highs in recent weeks, due to a limited supply as a result of the ongoing impact of the drought.

On Tuesday last, the Eastern States Trade Lamb Indicator was reported at 941 cents a kilogram, after breaking 950 cents for the first time the day before.

Meat & Livestock Australia said the limited supply of “finished lambs” across eastern states has driven prices to “incredible new levels”.

“The delay in new season lambs, in particular a limited supply of early new season lambs out of NSW, is driving competition for finished lambs,”
Meat & Livestock Australia said on Thursday.

NSW heavy lambs are trading at a 3¢ discount to Victoria, while retaining a 108¢ premium over SA heavy lambs.

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