Lamb prices fall well below last year’s levels
Deadweight lamb prices are under pressure, dropping for a second consecutive week to put them 43p/kg below the same week last year.
The GB SQQ for the week ending 26 February averaged 570.9p/kg, a decrease of 15.1p/kg on the previous week, according to the AHDB.
Throughput for the deadweight SQQ totalled 31,682 head – up 2,247 head (8%) on the previous week, but down 3,143 head (-9%) on the same week in 2021.
Rebecca Wright, AHDB senior analyst, said: “We have had a slightly larger carryover of lambs than we had last year, so there is just a little bit more supply available this year, which is putting pressure on lamb prices.”
Ms Wright said the price is still underpinned by reasonable demand and the lack of New Zealand product coming to the UK.
“New Zealand is still looking largely towards Asian markets at the moment and has less product available to send. Freight prices are also very high, which makes New Zealand sending large quantities to the UK quite uncompetitive.”
by Charlie Reeve / Farmers Weekly
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