Lamb pricing moved higher through December and January, recovering well from the market lull seen in late 2023. However, some mild weakness returned to the market during February as strong saleyard throughput volumes saw prices ease by 22% for trade lamb and around 25% for light lamb, according to the Meat & Livestock Australia national indicators.
The AuctionsPlus Online Lamb Indicator (OLI) initially followed the physical market down through February easing by 18%, but in recent weeks has demonstrated strengthening prices. Since late February the OLI has gained nearly 15% to trade at 705c/kg cwt this week.