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Lamb market monthly update - December 2022
Friday, 3 February 2023
Prices
GB new season liveweight lamb prices have fluctuated throughout the month of December, with both lamb and ewe prices peaking in the week of the 24th at 251.3p/kg and £88.10/head respectively, before easing. Deadweight prices started high but fell and stabilised throughout the month to 539.9p/kg in the w/e 24th December. Despite the fluctuations, prices remain well above the 5-year average.
Costs
UK natural gas prices are now at levels seen prior to the war in Ukraine, but are set to remain level this year, which could keep fertiliser prices high in 2023. Historically high feed ingredient and fuel prices are continuing to drive agricultural price inflation. However, in January feed ingredient prices, and delivered feed wheat prices fell overall.
Production and trade
Production of sheep meat has seen an increase from November, in slaughter levels and tonnage of sheep meat produced. This is despite lower kill rates over the Christmas period, leaving clean sheep slaughter at 1.2m head, and total production hitting 26,000 tonnes for December. This is up 7% and 6% respectively from November DEFRA figures.
Trade has continued to see changes during November– imports have seen a 11.5% decrease month-on-month, to 2,100 tonnes. This was due to falling imports from a number of countries, primarily Ireland when compared to previous months. Exports have grown by 6% from October to 7,000t, mainly from increases in exports to France and Germany. For the year to date, imports are up 9,200 tonnes (21.6%), with exports increasing by 5,500 tonnes (nearly 9%).
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