Liveweight lamb prices fall
Following price rises in the past two weeks, which have been attributed to the fall in the strength of the pound, the price of liveweight lambs has begun to follow a more normal pattern in the last week, and fallen.
In the week ended 20 July, the GB SQQ at liveweight markets fell by 12p compared to the previous week, to 188.7p/kg. This remained 38p higher than the same week in 2015 as the currency situation remains more favourable to exporters, while supplies remain tighter than the same week in 2015. Prices are thought to have dropped in the week as they follow their normal seasonal pattern for this time of year. Declines were seen throughout the period, with the GB SQQ on Wednesday 20 July falling by 5p to 185.7p/kg.
The fall in the SQQ seen in the past week has come despite a decline in the number of thoughputs in the week, with numbers coming to GB auction markets down 11 per cent on the previous week. This left numbers four per cent below the same period from a year earlier.
In the week ended 16 July, the deadweight lamb price continued to rise and has recently moved above the five-year average for the first time since mid-March. The GB deadweight SQQ was up by 16p on the previous week at 434.8p/kg. This was due to the currency situation and a decline in the level of estimated slaughterings, which were four per cent lower than the previous week and were 21 per cent lower than the same week in 2015.
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