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Liveweight lamb prices tick up again
Thursday, 16 July 2020
By Bethan Wilkins
The liveweight lamb trade at GB auction marts picked up a little in the latest week, with numbers coming forward also increasing.
Having fallen in the previous week, the NSL SQQ rose by 2p to just under 224p/kg in the week ended 15 July. This increased the difference compared to 2019 to over 41p, as prices at this time last year were falling. Prices were higher compared to last week on each day, though the scale of increase ranged from negligible to almost 9p.
We discussed last week how limited supply on the market overall, due to falling imports into Europe, is probably supporting the market. We also have the Islamic festival of Eid-al-Adha at the end of the month, which is likely providing some support to demand, although COVID-19 related disruption remains.
Overall throughput was up 3% on the previous week at over 122,000 head. As has been the case for over three weeks, numbers forward were also more than 20% higher than levels seen in 2019. Strong prices over the past few weeks may well be encouraging producers to market their lambs, and it seems the market can currently support this.
Deadweight prices fell in the week ended 11 July, with numbers forward increasing; however, there had been a very strong price increase in the week before. The deadweight NSL SQQ fell by 5p to 483.2p/kg, but this was still the highest level, at this time of year, for at least 5 years. Sharper falls this time last year meant the difference compared to 2019 widened to about 70p.
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