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Friday, February 21, 2014

Mutton prices to rally 45-65% by autumn/winter – season allowing, that is

By Augusto Semmelroth  |  Source: MLA's NLRS, ABS, ACU

Despite the last week’s price rally, mutton markets continue to underperform lambs. At a 55% discount to the ESTLI, the NSW mutton indicator is still quoted at 226¢/kg cwt. With an expected 37% drop in sheep slaughter in 2014 and anticipated firmer live export demand, mutton markets seem rather under-priced. How much upside should we expect?

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