Reset of price – In short we have seen a significant price reset on mutton, lamb, cattle and goat. Was this reset unexpected, probably not, but continued rain drew many to the conclusion prices might stay up for another season.
The issue with the speed of the reset is many that would normally be buying stopped because of a falling market, grain harvest was good and contracts being delivered into were still at the old price. Those that were prepared to buy on a falling market have continued to average down instead of jumping in when the prices bottom and start to move up again.
The lack…
