RECENT softening lamb prices paid to producers are beginning to be reflected in retail prices, according to analysis by Episode 3.

In his market insights article ‘Red meat deflation’ today, EP3 analyst Matt Dalgleish said the quarterly consumer price index data from the Australian Bureau of Statistics contained clear signals that softening livestock prices are beginning to have an impact on retail red meat prices.

The lamb CPI indicator shows a significant deflationary impact with prices dropping by 4.7 percent over quarter three 2023. The beef CPI indicator shows prices falling by 1.2pc in the same period. Pork and poultry meat is still displaying inflationary pressures of around 1pc, and the fish CPI is up by 3.5pc, he said.

This is leading to the combined meat and seafood indicator showing overall meat prices rising by 2.7pc over the September quarter, Mr Dalgleish said.

Click here to read the full EP3 article.

Source- EP3.