In the week ended 4 April, the GB liveweight OSL SQQ increased by 7.68p week-on-week, to 240.07p/kg. The quote now stands 61.77p above year earlier levels.
While there are still lambs on farm, reports suggest that imports are lower year-on-year which is tightening supplies on the domestic market and supporting the price.
Daily prices have gained strength through the week starting the week at 227.13p/kg, which was 10p below week earlier levels. Through the week prices increased to stand at 251.42p/kg on Wednesday 4 April, 26.07p above week earlier levels and 10p above the previous day. There was no published price for Friday 30 March.
Auction market throughput has declined week-on-week due to the current week having two bank holidays in it. Throughputs for the week stood at 81,900 head, 40% below week earlier levels.
During the week ending 31 March, the GB deadweight OSL SQQ recorded its 22nd week of consecutive growth having gained another 7.5p, to 536.7p/kg.
The measure now stands at the highest level it has ever stood across both the NSL and OSL series. The previous highest price was recorded in May 2013. Estimated slaughterings for the week stood at 231,700 head, 3% above the same week last year, which is an especially strong performance considering the Easter weekend. Industry reports have suggest some abattoirs were still working a full kill week.
Week-on-week estimated slaughterings did decline by 9%. With the key Easter period now over, will the price continue to rally?