The fact the red meat market has dropped significantly during 2023 is not news.
But it might have been to red meat consumers with prices not budging by much during the past few months.
Recent data showed the producers share of retail prices was at a 16-year low for lamb at 36.5 per cent and a 13-year low for beef at 30.5pc.
This week, Coles and Woolworths announced they was dropping the price on a number of lamb cuts, with this expected to also push other red meat retailers to drop prices also.
While price drops up until now have not been significant, there had been some easing of prices in recent months, which was thought to have an impact on the amount of red meat being purchased.
Do you think a drop in supermarket prices will lead to increased sales?
Sign up for our newsletter to stay up to date.