Market report: Seasonal boost for lamb prices

Tight supplies and strong pre-Christmas demand have pushed lamb prices up by about 15p/kg over the past week.

Slaughter numbers dropped by 15% in the week ending 4 December, to 34,980 head, boosting the average SQQ value by 15.5p/kg, to 374.6p/kg. This followed a 10p/kg increase in liveweight values the preceding week, when auction mart throughputs dropped by 6%, pegging the SQQ liveweight value at 167p/kg.

“With snow affecting many parts of the country, particularly in the north and Wales, the number of lambs coming forward through GB auction markets has been restricted,” said AHDB Meat Services‘ latest report.

“As processors strive to ensure adequate supplies of lamb in time for Christmas, and the Christmas show season arrived, prices increased considerably at GB auction markets, exceeding the seasonal trend by some margin.”

Meanwhile, lower global sheepmeat supplies, and the relative weakness of the pound against the euro, meant UK lamb was in strong demand to continental Europe. “Rising prices for sheep meat have resulted in the total value of exports rising,” said AHDB. “The unit price for sheep meat exports was nearly 10% higher in September than last year.”