Lamb export prices were expected to average $98 for an 18.4kg lamb this season, up 16 per cent on the provisional 2012-13 price of $84.60.
Federated Farmers president Bruce Wills said the law of economics would kick in and the cost of lamb would rise this year.
"There's no question, if you're a consumer, you're going to be paying more for lamb this year than last," he said.
However, a manager at Westmere Butchery in Auckland, who declined to be named, said he did not expect a large increase in prices between now and Christmas.
"It might be 5c, if that. It won't ever just shoot up."