By Matt Dalgleish | Source: MLA, ABS, Mecardo
The Eastern States Trade Lamb Indicator (ESTLI) averaged nearly 930¢/kg cwt during July, after peaking at a new record price of 951¢ last week. While the ESTLI is at an all-time nominal record it has been higher in the past on an inflation adjusted or “real value” basis. Although, you would have to go back prior to 1958 to find higher real value peaks and there are only a handful of them.
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