Lamb prices fall for third consecutive week
Liveweight lamb prices fell for the third consecutive week, according to the latest weekly figures from AHDB Beef & Lamb, as numbers coming to the market rose.
The average GB Standard Quality Quotation (SQQ) across the week ending (w/e) 28 September was 170.19p/kg, down 5p on the previous week. This followed a higher number of lambs coming to liveweight markets.
However, sharper falls last year meant this year’s price was 26p higher than the same period last year. Prices actually rose at the beginning of the week, but soon began to fall again, with the GB SQQ on Wednesday 28 September itself reaching a low for the week of 167.0p/kg.
Numbers of lambs coming to market during the week were up by 9% compared to the previous week, as producers continue to move towards the peak marketing period. Numbers were also 10% higher than the same period in 2015.
Price remained higher than last year’s levels, despite higher numbers coming to market, due to the fall in the value of the pound since the EU referendum, making UK exports more favourable, while helping to limit imports.
Deadweight prices also fell in the w/e 28 September, with the GB deadweight SQQ down a penny on the previous week at 405.1p/kg. This came despite a fall in the estimated number of slaughterings during the week. However, prices remained 53p higher than the same week in 2015. Estimated slaughterings were 10% lower than the previous week and 25% lower than 2015 levels.
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