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Thursday, June 20, 2019

Export substitution effect

By Matt Dalgleish  |  Source: DAWR, MLA, Mecardo

The percentage price spread premium between the Eastern States Trade Lamb Indicator (ESTLI) and the National Mutton Indicator (NMI) has been narrowing in recent months. It is not unusual to see this occur during the middle of the season. However, the Mecardo team were wondering how much of an impact the price differential has on Australia’s export volumes of lamb and mutton. Is there any substitution effect at play as the relative price of the two sheep meat exports varies?

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