Lamb prices rebound to normal trend
Liveweight lamb prices have returned to the normal trend seen at this time of year and fallen in the past week, as higher numbers have come to the market.
In the week ended 6 July, the liveweight GB SQQ was 2p lower than the previous week at 193.5p/kg. However, this remained 30p/kg higher than the same week in 2015. The main price falls were seen in recent days, with the price on Wednesday 6 July being 2p lower than the previous week at 191.9p/kg. Prices have fallen despite the continued weakening of the pound against the euro, as numbers coming to GB auction markets has increased, while demand for the end of Ramadan celebrations ended.
The number of throughputs at GB auction markets was up by 10 per cent on the previous week. The higher prices seen towards the end of last week are thought to have encouraged producers to market more lambs. Numbers were also one per cent higher than the same week in 2015.
Deadweight prices during the week increased due to the improving currency situation for exporters. The deadweight GB SQQ was up by 12p on the previous week at 409.9p/kg, leaving it 25p higher than the same week in 2015. This is despite the estimates for slaughterings during the period rising by nine per cent compared to the previous week and seven per cent compared to the same period in 2015.
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