For the love of lamb
South Australian farmers are experiencing skyrocketing lamb prices on the back of strong export demand and tightening supply.
SOUTH Australian farmers are experiencing skyrocketing lamb prices on the back of strong export demand and tightening supply.
The market has continued to set records across the country since May, with the national trade lamb indicator peaking at 726¢/kg and a pen of 10 selling for $276.20/head last week.
The price of meat for consumers is expected to go up by “$1 or so” in response, with lamb averaging $18/kg, according to Meat Market owner, Richard Gunner.
“If the price goes up another dollar, we hope consumers understand there’s a hardworking farmer at the end of that product,” Mr Gunner said.
“They’re dealing with some very difficult conditions in areas of Australia.”
The latest market analysis has highlighted strong demand from the US, China and the Middle East continued to support higher prices.
China last year overtook the US as Australia’s top lamb export market by volume and registered a 63 per cent jump in export value to $265 million.
Stockport farmer Mathew Koch said they had been “lucky” to receive a few small rains.
“It’s still pretty dry, but there are a lot of other areas a lot worse off,” Mr Koch said.