Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| AustraliaHeadline | physical_fob | Fresh boneless lamb cut transaction price reported for Australia | USD/MT | 11290–11290 | Dec 2025 | — |
| New Zealand | physical_fob | Fresh boneless lamb cut transaction price reported for New Zealand | USD/MT | 13340–13340 | Dec 2025 | — |
| Greece | physical_cif | Wholesale unit price for fresh boneless lamb cut | USD/MT | 12030–12030 | Dec 2025 | — |
| Pakistan | physical_fob | Visible transaction unit price for fresh boneless lamb cut | USD/MT | 8570–8570 | Dec 2025 | — |
| India | physical_fob | Visible transaction unit price for fresh boneless lamb cut | USD/MT | 7780–7780 | Dec 2025 | — |
Premium structure
Differentials between benchmarks reveal where physical lamb trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Australia | — | |
| New Zealand | — | |
| Greece | — | |
| Pakistan | — | |
| India | — |
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