Increasing supplies leading to lamb prices falling in Great Britain
Both liveweight and deadweight lamb prices in Great Britain (GB) are witnessing sharp falls – similar to what is being seen at home here.
The sharp fall-off in prices is coming down to the ever-increasing supply of lambs – as is typically the case this time of the year.
Even though prices in GB had been slipping over the last few weeks, a sharp drop has been seen over the past week.
According to the Agriculture and Horticulture Board (AHDB), for the week ending June 23, the new season lamb (NSL) standard quality quotation (SSQ) fell by nearly 43p on the previous week – to 255.81p/kg.
In saying this, prices are still well ahead compared to the same week last year (stronger by 29p/kg).
The biggest fall in prices came towards the end of this period, with prices on Wednesday (June 23) down 57p on the week to 230.58p/kg.
As mentioned already, prices are coming back as supplies continue to increase.
The AHDB said that the number of lambs coming to market this past week was 8% higher than both the previous week and the same week as last year – standing at 97,700 head.
Deadweight GB lamb prices
Similarly, deadweight prices in GB have fallen sharply. For the week ending June 19, the GB NSL SQQ fell 31p to 634.5p/kg.
Although prices are still ahead of the same time last year – by 166p/kg, the AHDB added.
Again, a ramping up of supplies is inserting downward pressure on prices.