New season lamb prices make strong start
New season lamb prices have made a firm start to the season as lambs have been slow to reach markets and abattoirs, according to Quality Meat Scotland (QMS).
At Scottish marts, prices for new season lambs have been making around 350p/kg lwt in mid-May, up about 10% on the year, and by around 25% on the five-year average.
Meanwhile, GB deadweight prices reported by AHDB traded at 727p/kg dwt for R3L grades in the second week of May.
Across GB, data shows that the number of new season lambs traded in the four weeks to May 10 fell by nearly 25% compared to the same period in 2022.
At the same time as a slow build in new season supplies, hogg availability has fallen back from its peak at Ramadan and Easter, limiting the total number of prime sheep on the market.
While hogg prices have cooled since Easter, they have still been averaging around 5% higher than year-earlier levels at Scottish marts in mid-May.
Iain Macdonald, market intelligence manager at QMS, said it had been an interesting start to 2023 for the lamb trade.
“Prices subdued through January and February, back at pre-covid levels for the time of year, before a strong uplift through March,” he said.
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