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.