UK lamb prices ‘remain firm’ compared to 2019
Firm farmgate prices are positioning UK lamb as a serious competitor in European markets, according to the latest analysis by Quality Meat Scotland.
Despite dipping below 200 p/kg lwt in auction markets, prime lamb prices remain firm in comparison to 2019 standing 25% higher than a year ago, QMS said.
Last year’s prices were affected by uncertainty over a potential Brexit at the end of October 2019, reaching a low point in the last week of September, with prices recovering through the final quarter of 2019.
Stuart Ashworth, Director of Economic Services at QMS, said: “Equally it is not just prime lamb prices that are firm, so too are store lamb prices, which have traded around £10 per head higher than last year, and breeding sheep prices implying confidence in the sector.”
Similarly, all major lamb producing states of the European Union are also reporting prices higher than last year.
“The average EU heavy lamb (SQQ) price is currently some 15% higher than a year ago, and Irish prices are 24% higher, with light lamb prices 7% up,” he said.
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