Lamb prices slump in worst week of 2024

Quoted prices at the factories for the lambs slumped to 720c/kg on Monday, which added the quality bonus of 10-20c/kg as applicable at the individual factory.

The positive is that demand for the lambs continues to be strong at the factories.

"Stunned" was the reaction of lamb producers as trade hit one of its worst weeks of 2024, wiping the profit margin off returns.

"It's a killer for the sector," was the summary of many breeders referring to the scale of the continuous price cuts over the past month eating out their margins and being described as "totally unjustified".