Saleyard lamb prices appear to have reached their seasonal base for now, with a 16pc lift in yardings this week failing to dislodge recent prices – which are holding around 15-30pc above those of this time last year.

MLA's trade lamb indicator, for instance, has closed the week at 339c/kg carcase weight - up 1c/kg.

Its heavy lamb indicator closed on 347c/kg, also up 1c/kg.

There were further falls in over-the-hook quotes, reflecting the current unstable export outlook, though in NSW these offers remain a little above the saleyard averages.

Lamb numbers continue to rise out of the western districts of Victoria, but have declined in northern NSW.

Mutton prices remain solid at around 150¢/kg cwt, underpinned by a 20pc year-on year fall in numbers in the saleyards.