Saleyard lamb prices decline after summer of highs, supermarkets costs tipped to stay high

Merino lamb prices have dropped nearly 30 per cent since the end of January. (Supplied: Emma Brown)

After holding up in the face of plunging cattle values, lamb prices are beginning to drop at a fast pace.  

But if you love a leg of lamb, you should not get your hopes up for cheap lamb deals, as shoppers might face a six-month wait for supermarkets to pass on this farmgate price drop.