Our view is that lamb and mutton prices are likely to remain under pressure over the coming months due to weaker local demand underpinned by high-interest rates and cost of living pressures. As we move into 2024, interest rates are expected to
ease somewhat which could provide upward support for prices over the medium term. This could, however, be offset by increased supply
Looking Ahead
due to more favourable production conditions, as mentioned above. Increased lamb exports provide an upside scope for this view but would likely be limited by logistical capacity.
24
Made with FlippingBook interactive PDF creator