With Australian sheep flock numbers plunging to their record lows since the 1920s, mutton markets in the opening weeks of this spring have surged to unprecedented heights.
"The market game is purely a numbers presently," one exporter said yesterday following the Bendigo sheep sale.
There agents quoted prices $2-$5 dearer and buyers estimated their purchases were between 220 and 240 cents a kilogram carcase weight.
"There is no way these current prices are due to an improvement in export prices," the exporter said.
"And we expect this situation will remain for at least another two to four years and especially while the incentive to grow grain is more compelling than growing wool", he added.
* Extract from a detailed market wrap to appear in Stock & Land, Vic, September 25 edition.