Australia’s National Trade Lamb Indicator (NTLI) rose 11c/kg during the week to Friday 30 October 2026, closing at 1174c/kg carcass weight. The benchmark, calculated by Meat and Livestock Australia, was also 78c/kg higher than a month earlier and stood 85c/kg above the level recorded at the same point last year.
The latest result was based on 48,630 lambs sold during the previous seven days. The NTLI covers trade-weight lambs aged up to 12 months, including all fat scores, with carcass weights between 20kg and 26kg. Its calculation uses a seven-day rolling average of sales reported through National Livestock Reporting Service saleyards across Australia.
Several sheep indicators moved higher
Restocker lamb prices recorded a larger weekly increase than the trade-lamb benchmark. The restocker lamb indicator finished at 1218c/kg carcass weight, up 25c/kg over the week. It gained 110c/kg over the month and was trading 128c/kg above its position 12 months earlier.
The mutton indicator also strengthened, increasing 25c/kg in the week to close at 856c/kg carcass weight. That figure was 49c/kg higher than a month earlier and 123c/kg above the equivalent level last year.
| Indicator | Date | Category | Price | Change |
|---|---|---|---|---|
| National Trade Lamb Indicator | 30 October 2026 | Trade-weight lambs | 1174c/kg carcass weight | +11c/kg week on week; +78c/kg month on month; +85c/kg year on year |
| Restocker lamb indicator | 30 October 2026 | Restocker lambs | 1218c/kg carcass weight | +25c/kg week on week; +110c/kg month on month; +128c/kg year on year |
| Mutton indicator | 30 October 2026 | Mutton | 856c/kg carcass weight | +25c/kg week on week; +49c/kg month on month; +123c/kg year on year |
| Merino lamb indicator | 30 October 2026 | Merino lambs | 1089c/kg carcass weight | -8c/kg week on week; +84c/kg month on month; +113c/kg year on year |
Merino lambs remain well above last year
The Merino lamb indicator was the exception to the broader weekly rise. It fell 8c/kg in the latest week, closing at 1089c/kg carcass weight. Despite that decline, the indicator was 84c/kg higher than a month earlier and 113c/kg above its level 12 months ago.
The reported movements show the different direction of the main Australian sheep categories over the seven-day period:
- Trade lambs increased by 11c/kg to 1174c/kg carcass weight.
- Restocker lambs and mutton each rose by 25c/kg.
- Merino lambs declined by 8c/kg, but remained higher than both the previous month and the same period last year.
Rolling average based on saleyard sales
Meat and Livestock Australia’s NTLI is not a single sale result. It is a rolling market measure built from reported saleyard transactions, with the latest calculation incorporating sales from the seven days before 30 October. The measure therefore brings together trade-weight lambs from across the contributing Australian markets rather than representing one individual yard or consignment.
The figures reported by Weekly Times show that the strongest monthly and annual gains were recorded in the restocker lamb and mutton indicators, while the headline trade lamb measure also continued to strengthen. All four indicators remained above their year-earlier positions on the latest close, although the weekly movement for Merino lambs was negative.
