Ewe Price Trend and Forecast 2026-2027

Australia paid the most for ewe in Q3 2026: USD 6.30/KG, up 3.3% from USD 6.10/KG in Q2. Prices there reflect record export demand and tight flocks. Worldwide, the average rose 0.9% to USD 5.50/KG from USD 5.45/KG, mostly because Australian and New Zealand prices climbed on tight flocks. What about Q4 2026? We expect a global average somewhere in the USD 5.25-5.81/KG range, with flock size, export demand and autumn culling doing most of the work.

A ewe is a mature female sheep, and cull ewes are sold for slaughter once they are past breeding age. Their meat is sold as mutton, used in sausages, kebabs, curries and processed meat, and the hides and wool add to the value. This report tracks the price of cull ewes, quoted per kilogram of carcass weight, in the main producing and trading countries. Prices follow flock size, the weight of the cull in autumn, export demand and the strength of the lamb market.

Australia and New Zealand are the largest exporters of mutton, while Ireland and the United Kingdom supply European buyers and their own domestic trade. Australia's mutton prices reached a record of 928 cents per kilogram carcass in late June 2026, with slaughter sharply lower as flocks rebuild. New Zealand mutton traded between 790 and 850 cents in September, well above the 540 to 595 cents of a year earlier, while the average cull ewe in the United Kingdom sold for about GBP 131 per head in October.

Ewe Price Forecast for 2026

Prices should hold close to current levels. Tight flocks in the Southern Hemisphere offset heavier autumn supply in Europe. Year on year, the global average has moved from USD 4.10/KG to USD 5.50/KG, an increase of 34.1%.

For Q4, the risks are balanced. What could push prices higher? Smaller flocks, stronger export demand or a firm lamb trade would lift prices. What could pull them lower? Heavier autumn culling, weak export orders or a softer lamb trade would lower prices.

For the Quarter Ending September 2026

Ewe Prices Q3 2026:

• Australia: USD 6.30/KG
• New Zealand: USD 4.80/KG
• Ireland: USD 5.60/KG
• United Kingdom: USD 5.30/KG

Ewe Prices in Australia

In Q3 2026, the average price in Australia firmed 3.3% to USD 6.30/KG, compared with USD 6.10/KG in Q2. Prices rose as flock numbers stayed low and processors competed for stock. Compared with Q3 2025, when Australia averaged USD 3.70/KG, the current price is 70.3% higher. The gap to the four-market average of USD 5.50/KG was 14.5% above for Australia.

Why did the price of Ewe change in Q3 2026 in Australia?

Australia rose. Flock numbers stayed low and processors competed for stock. Buyers kept orders close to immediate needs. At USD 6.30/KG, Australia is 46.5% higher than in Q4 2025, when the average was USD 4.30/KG, and the global average is 25.3% higher over the same period.

Ewe Prices in New Zealand

New Zealand's average gained 6.7% in Q3 2026, to USD 4.80/KG from USD 4.50/KG in Q2. Prices rose as strong export demand for mutton lifted schedules. The current level is 60.0% above the Q3 2025 average of USD 3.00/KG. Against the four-market average of USD 5.50/KG, New Zealand stood 12.7% below in the quarter.

Why did the price of Ewe change in Q3 2026 in New Zealand?

New Zealand rose. Strong export demand for mutton lifted schedules. Traders checked stock levels before committing to larger volumes. Since Q4 2025 the price in New Zealand has gone up 47.7%, from USD 3.25/KG to USD 4.80/KG, while the global average has gone up 25.3%.

Ewe Prices in Ireland

Prices in Ireland fell 1.8% in Q3 2026 to USD 5.60/KG, against USD 5.70/KG in Q2. Prices slipped as more cull ewes came forward and buyers trimmed quotes. Compared with Q3 2025, when Ireland averaged USD 4.90/KG, the current price is 14.3% higher. The gap to the four-market average of USD 5.50/KG was 1.8% above for Ireland.

Why did the price of Ewe change in Q3 2026 in Ireland?

Ireland slipped. More cull ewes came forward and buyers trimmed quotes. Offers were reviewed weekly as contract talks went on. Compared with the Q4 2025 average of USD 5.10/KG, the price in Ireland has changed by +9.8%, against +25.3% for the global average.

Ewe Prices in United Kingdom

The United Kingdom recorded a 3.6% decrease in Q3 2026, with the average falling to USD 5.30/KG from USD 5.50/KG in Q2. Prices fell as more cull ewes reached markets and prices per head came off. The current level is 10.4% above the Q3 2025 average of USD 4.80/KG. Against the four-market average of USD 5.50/KG, the United Kingdom stood 3.6% below in the quarter.

Why did the price of Ewe change in Q3 2026 in United Kingdom?

The United Kingdom fell. More cull ewes reached markets and prices per head came off. Most deals were settled on short notice. At USD 5.30/KG, the United Kingdom is 8.2% higher than in Q4 2025, when the average was USD 4.90/KG, and the global average is 25.3% higher over the same period.

For the Quarter Ending June 2026

Ewe Prices Q2 2026:

• Australia: USD 6.10/KG
• New Zealand: USD 4.50/KG
• Ireland: USD 5.70/KG
• United Kingdom: USD 5.50/KG

Ewe Prices in Australia

Prices in Australia climbed 17.3% in Q2 2026 to USD 6.10/KG, against USD 5.20/KG in Q1. Prices rose sharply as flock numbers stayed low. Compared with Q2 2025, when Australia averaged USD 3.40/KG, the current price is 79.4% higher. The gap to the four-market average of USD 5.45/KG was 11.9% above for Australia.

Why did the price of Ewe change in Q2 2026 in Australia?

Australia rose sharply. Flock numbers stayed low. Order sizes stayed modest through the quarter. Q1 had brought a 20.9% gain, and by the end of Q2 the price was 79.4% above the Q2 2025 average of USD 3.40/KG. Q3 then extended the move, taking the price to USD 6.30/KG.

Ewe Prices in New Zealand

New Zealand recorded a 15.4% gain in Q2 2026, with the average rising to USD 4.50/KG from USD 3.90/KG in Q1. Prices rose sharply as export demand improved. The current level is 60.7% above the Q2 2025 average of USD 2.80/KG. Against the four-market average of USD 5.45/KG, New Zealand stood 17.4% below in the quarter.

Why did the price of Ewe change in Q2 2026 in New Zealand?

New Zealand rose sharply. Export demand improved. Contract talks were mostly settled before the quarter began. After +20.0% in Q1, the quarter closed 60.7% above its year-earlier level of USD 2.80/KG, and in Q3 the move was extended, to USD 4.80/KG.

Ewe Prices in Ireland

In Q2 2026, the average price in Ireland gained 9.6% to USD 5.70/KG, compared with USD 5.20/KG in Q1. Prices rose as flock numbers stayed low. Compared with Q2 2025, when Ireland averaged USD 4.60/KG, the current price is 23.9% higher. The gap to the four-market average of USD 5.45/KG was 4.6% above for Ireland.

Why did the price of Ewe change in Q2 2026 in Ireland?

Ireland rose. Flock numbers stayed low. Sellers adjusted offers in small steps. Year on year the price is 23.9% higher than the USD 4.60/KG of Q2 2025, following +2.0% in Q1. Q3 reversed the move, with the price at USD 5.60/KG.

Ewe Prices in United Kingdom

The United Kingdom's average rose 3.8% in Q2 2026, to USD 5.50/KG from USD 5.30/KG in Q1. Prices rose as export demand improved. The current level is 17.0% above the Q2 2025 average of USD 4.70/KG. Against the four-market average of USD 5.45/KG, the United Kingdom stood 0.9% above in the quarter.

Why did the price of Ewe change in Q2 2026 in United Kingdom?

The United Kingdom rose. Export demand improved. Buyers worked through existing stock before placing new orders. Q1 had brought an 8.2% gain, and by the end of Q2 the price was 17.0% above the Q2 2025 average of USD 4.70/KG. Q3 then reversed the move, taking the price to USD 5.30/KG.

Quarterly Ewe Price Trends

Ewe prices rose through 2025 and rose in 2026. The global average moved from USD 3.70/KG in Q1 2025 to 3.88 in Q2, 4.10 in Q3, 4.39 in Q4, then 4.90 in Q1 2026, 5.45 in Q2 and 5.50 in Q3, a net gain of roughly 48.6% across the window. Flock size, export demand and autumn culling set the direction.

What was Ewe Price in 2025?

2025 was a year of steady gains for ewe. Starting near USD 3.70/KG in Q1, the global average finished the year at 4.39 in Q4, a gain of about 18.6%. Flock size, export demand and autumn culling set the direction.

Ewe Prices in Australia in 2025

In Australia, prices moved from about USD 3.20/KG in Q1 2025 to USD 4.30/KG by Q4, up roughly 34.4%. Prices rose in every quarter as flocks were smaller and export demand stayed strong. Relative to the end of 2025, the price in Australia is 46.5% higher at USD 6.30/KG.

Ewe Prices in New Zealand in 2025

In New Zealand, prices moved from about USD 2.70/KG in Q1 2025 to USD 3.25/KG by Q4, up roughly 20.4%. Prices rose in every quarter as flock numbers fell while export demand stayed firm. Since the 2025 close of USD 3.25/KG, the price in New Zealand has moved up 47.7%, reaching USD 4.80/KG in Q3 2026.

Ewe Prices in Ireland in 2025

In Ireland, prices moved from about USD 4.30/KG in Q1 2025 to USD 5.10/KG by Q4, up roughly 18.6%. Prices rose in every quarter as flocks were smaller and export demand stayed strong. Relative to the end of 2025, the price in Ireland is 9.8% higher at USD 5.60/KG.

Ewe Prices in United Kingdom in 2025

In the United Kingdom, prices moved from about USD 4.60/KG in Q1 2025 to USD 4.90/KG by Q4, up roughly 6.5%. Prices rose in every quarter as flock numbers fell while export demand stayed firm. Since the 2025 close of USD 4.90/KG, the price in the United Kingdom has moved up 8.2%, reaching USD 5.30/KG in Q3 2026.

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Expert Market Research: Your Source for Real-Time Ewe Price Intelligence

We follow ewe prices in the main producing and consuming countries, and trace each move back to flock size, export demand, autumn culling and demand. Our forecasts draw on flock size, export demand and autumn culling across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.