THREE weeks ago selling older ewes would have made producers a pretty penny at prime sheep sales, however, the market is "turning pear-shaped", particularly in northern NSW.
At the beginning of March, the mutton indicator got as high as 370 cents a kilogram according to the Meat and Livestock (MLA) Australia's National Livestock Reporting Service (NLRS).
The indicator did suffer from a slump, getting as low as 317c/kg last week, but the NLRS reported another increasing trend, reaching 339c/kg on Friday.
This slump was due to relaxed demand from restockers, according to Davidson Cameron and Company livestock agent Dan McCulloch, Tamworth.
"We had restocker interest then which pushed the competition up but we've lost most of that restocker interest now so the prices have gone back as well," Mr McCulloch said.
Mr McCulloch said at the Tamworth Regional Livestock Exchange a few weeks ago, competition for older ewes was solid.
"There are no massive numbers coming through the yards anymore either, I'm not sure of the reason for that," he said.
"Goats are actually making about 100c/kg more than mutton at the moment, that's pretty unusual."
The market is holding slightly firmer towards the south of the state where the heavier lines are starting to pick up again.
Bargwanna and Gerrard director John Gerrard, Young, said the market was slightly softer but still good.
"The lighter end is probably softer but there is also more supply in that category," he said.
"Anything with a good bit of cover is still selling well."
He said processors were more prominent, however, restockers were still active in his area.
"People are getting rid of their good five-year-old ewes as mutton because the market is strong and the seasonal conditions aren't so good."
Landmark Deniliquin agent Bill O'Brien said the mutton market had been fluctuating around Deniliquin.
"It's a real numbers game - that northern area is drying out a bit so we are still seeing high numbers from Queensland and those sorts of places," he said.
"There has been a lack of demand for store sheep, even the scanned-in-lamb lines."
Producers were feeling the pressure of an unforgiving season and lack of water in the area which had forced them to run a younger flock.
"We were seeing six-year-old ewes come through (the saleyards) but that's now been cut back to five year olds because of the decent prices and lack of water."
Mr O'Brien said the price was still holding steady, varying between 320c/kg to 340c/kg.
"Processors can afford to pay a bit more when the pressure's on - for this time of year I think the kill rate was still fairing pretty good too."
Timely sale pays off at Orange
ORANGE wool producer Les Wright, "Icely", offloaded ewes and wethers while the mutton price was on a high - and he is glad he did.
Mr Wright runs about 2000 Merino ewes on his 298-hectare property where his main focus is producing fine wool.
Mr Wright sold the older ewes and wethers from his flock through the Carcoar saleyards.
"They did very well, they were in very good order," he said.
The ewes, which were five-years-old, made $95 a head.
"I had some wethers in as well and they made about $110," Mr Wright said. "I was happy with that - the pasture is drying off here now so I think I sold them at the right time."
"I tend to run a fairly young flock - generally nothing above four years."
Mr Wright, who uses Yalgoo sires from the Nivison family at Walcha, said any genetic gains Yalgoo was making were locked into the flock quicker.
"Running a younger flock also helps turn productivity and genetics over quicker."
Charlie Wright, 3, is pictured with Bob the Kelpie watching a mob of Merino wethers at grandfather Les Wright's Orange property.