There hasn’t been a lot of fanfare, as prices have been strong for some time, increases are marginal, and the heavy end is lagging. The Eastern States Trade Lamb Indicator (ESTLI) hit a new record last week, with mutton also breaking new ground. Back in August 2025 the ESTLI hit a peak of 1231¢/kg cwt, marking the highest point for the indicator on record.Since then, we’ve seen the ESTLI weaken somewhat, but it has maintained extreme levels for all of the 2025-26 selling season.