The fall, though, has not been as severe compared to the lamb indicators, MLA says.

At the completion of yesterday's sales, the indicator had slipped 8¢ to 186¢/kg (carcase weight).

This is the single largest fall to the indicator since early September 2007.

Sheep yardings increased 2pc on last week.

Mutton rates decreased in NSW and Victoria, by 9¢/kg and 28¢/kg to end 200¢/kg and 186¢/kg respectively.

However, in SA, WA and Tasmania, the mutton indicator gained between 3¢/kg and 11¢/kg.

Though mutton rates are falling, they are still higher than last year, with the indicator up by 107¢/kg to 186¢/kg, a rise of 57pc.

MLA says the largest increases have been recorded in Victoria and Tasmania, increasing by 113¢ and 132¢, respectively.