Lamb trade supported by increased exports to EU

UK lamb prices are being strengthened by export trade with less lamb available in Europe.

Despite some seasonal declines, farmgate prices remain almost 60p/kg up on year-earlier levels, with lambs averaging 570p/kg deadweight.

Sheepmeat production on the Continent dropped back during the first half of 2023, and the EU sheep flock is forecast to decline, according to the EU Commission.

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The EU short-term outlook has forecast a 1.8% decline in EU sheep and goat production in 2023, followed by a further 1% reduction in 2024.

Hybu Cig Cymru – Meat Promotion Wales  analyst Glesni Phillips said: “Some EU countries are indicating declines in their domestic production, which could well benefit UK exports, along with much of New Zealand’s exported product continuing to be sent to China.”

Trade data from HMRC showed that UK sheepmeat exports were up 10% on the year during the first eight months of 2023, with 94% of this exported to the EU. Meanwhile, imports were down 25% compared with the same period last year.

Liveweight

Lower throughputs at GB auction markets helped to support finished lamb prices during the past week, with the liveweight SQQ averaging 263.6p/kg, up 14p/kg on week-earlier levels.

Nick Young, auctioneer at Hailsham Livestock Market, told Farmers Weekly the weather had been a big factor in the South, with flooding limiting numbers coming forward during the past week.

Trade at Hailsham has been hovering at about 250p/kg in recent weeks, but Mr Young said as the flooding ends and throughputs pick back up, prices could ease slightly.