With records tumbling at last week's first-cross ewe sales, at Edenhope, Vic, and Naracoorte, to set a new high of $402 for 1.5-year-old first-cross ewes, people all across the industry are asking just how high prices could reach.
Rodwells Edenhope agent David Hanel said the solid season in south-west Vic and the South East were creating strong demand from restockers, which was driving much of the price rise.
Mercardo livestock industry analyst Matt Dalgleish said prices were also being impacted the outbreak of African swine fever in China meant all proteins, including sheepmeat were strong sought after.
"You cannot underestimate the impact of ASF, the normal dip in prices we see in spring as more supply hits the market is not likely to be there this year," he said.
But butchers say the high prices are coming at the cost of the domestic market.
With so much pushing lamb and ewe prices up, are we likely to see a peak anytime soon?