Lamb prices fall
The liveweight lamb market has seen further falls in the week ending 5th October 2016 despite the number of lambs coming to market decreasing compared to the previous seven days, AHDB Beef and Lamb has reported.
In the week ended 5th October, the GB SQQ (Standard Quality Quotation) fell by 4p compared to the previous week at 166.1p/kg.
The decline comes despite slaughterings falling below the level from the previous week and some further weakening of the pound, which AHDB Beef and Lamb suggests will mean that demand has also decreased.
During the same week in 2015, a fall in the number of slaughterings led prices to rise and therefore, 2016 prices are now only 18p higher than the same point last year, the smallest difference since late June.
During the week ended 5th October lamb slaughterings were 7% lower than the previous week. However, numbers remained 9% higher than the same week in 2015, as higher numbers of lambs have started to come through after a slower start to the season.
Falls were also seen on the deadweight market, with the GB SQQ down by 4p on the previous week at 400.8p/kg. This left prices 58p higher than the same period in 2015.
This follows estimated slaughterings rising by 11%, compared to the previous week and up by 18% on the previous year.
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