Elders : Sheep price autumn forecast with Simon Quilty

In general, we have seen some firming in lamb and mutton prices to start 2024.

As the months pass, the Australian sheep flock continues to liquidate with the mutton kill (which reflects the female kill) sitting at a 10-year high. Whilst we saw some price increases in key regions to start the year, production has reached record levels, with some oversupply resulting in poorer pricing.

When the sheep and lamb kills were combined in Q4 of 2023, it totalled a record 222,651 megaton (MT). This is not on the back of a large flock, but related to the highly efficient production of lambs.