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Lamb prices mixed, again
Thursday, 23 April 2020
By Rebecca Wright
Last week liveweight hogget prices made a small week-on-week gain, only to lose ground this week. The GB liveweight OSL SQQ slipped almost 4p during the week ending 22 April, to 212.1p/kg. Daily prices during the week were very mixed. Saturday recorded a large gain having been exceptionally low in the previous week. There were also markets on Friday, but no sales on Good Friday last week. More recently, daily prices have recorded week-on-week declines.
In contrast to hogget prices, new season lamb prices are above year earlier levels and continue to move in a general upwards direction. In the latest week the GB liveweight NSL SQQ stood at 271.29p/kg.
Throughputs for the week have increased to just short of 115,500 head. This is low for the time of year. Throughputs in the coming weeks would normally be expected to drop back, as the market switches from hoggets to new season lambs.
Ramadan is just beginning, however with much of Europe still in lockdown it is likely that any demand boost will be more subdued than normal. The likely lower number of family gatherings to break the fast at sundown will limit demand. What form lockdown takes in both France and the UK in a month’s time will be key for how much demand Eid al-Fitr brings with it. If family celebrations are possible, then demand may well receive a much needed boost. After Eid al-Fitr, the next major lamb demand event in the calendar will be Eid al-Adha at the end of July. It is for Eid al-Adha where Muslims purchase a lamb for the Qurbani, and are looking for animals over the age of six months.
During the week ending 18 April, the GB deadweight OSL SQQ was steady on-the-week at 457.8p/kg. Estimated kill* has continued to be down year-on-year most likely reflecting the lower demand for sheep meat. Kill during this week was down at 174,500 head. It is important to consider that the previous week was Easter, and that the same week last year was Easter, making comparisons less representative. Even considering that, the kill is significantly lower than would normally be expected.
*estimated slaughter figures should be treated with caution, as a larger share of animals than usual may have been sold deadweight, given the temporary disruption to some live markets. This would reduce the accuracy of the estimate.
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