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Lamb market monthly update: November 2023
Thursday, 21 December 2023
Prices
The GB NSL liveweight SQQ measure for November averaged 262.6p/kg. Prices started the month at 268.5p before falling for two weeks to 258.4p, before rebounding by 3p to end the month at 261.4p for the week ending 2 December.
The GB NSL deadweight SQQ averaged 586.3p/kg for November. Prices started the month off at 577.9p before gaining ground to 589.9p, and then stabilising for the final two weeks to end at 588.1p.
Cull ewe prices grew throughout the month, averaging £77.57 per head for November.
Costs
Fertiliser costs remained below last year’s levels in November but have moved sideways in recent months, as prices remain historically high for this point in the season. This is partly due to increased natural gas prices as unrest in the Middle East continues. Fuel prices fell slightly in November and remain below high levels seen last year.
Production
Sheep meat production grew by 6,000 tonnes to reach 25,800 tonnes for November. This was driven by growth in clean sheep slaughter, which totalled 1.14m head for November, up by 39,200 head (4%) from October.
Trade
Sheep meat imports fell for October to 3,440 tonnes, as shipments dropped from New Zealand by 900 tonnes. Imports from Australia grew by 14% to sit on-par with levels from New Zealand.
Exports grew by 625 tonnes in October to reach 7,475 tonnes, with volumes increasing to destinations such as France and Belgium.
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