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No January blues for lamb prices
Thursday, 13 January 2022
During the most recent week liveweight lamb prices slipped slightly compared to the opening week of 2022 but remained strong in historic terms. During the week ending 12 January the GB liveweight OSL SQQ slipped 4.8p, to 268.33p/kg. The price stands just under 3p higher than a year ago and 64p above the five-year average.
Throughputs picked up on the previous week reflecting that there were no bank holidays and that businesses were returning to a more normal operating pattern post the festive period. A total of 106,000 lambs were sold at GB finished auction market sales, 20% up on the week but 6% down on the same week last year. Reports suggest staff availability in abattoirs is current challenged due to an increase in Covid cases.
Meanwhile, the GB deadweight OSL SQQ slipped 2.3p in the week ended 8 January, to 614.2p/kg. This is almost 96p above year earlier price and 175p above the five-year average.
Consumer demand is reported to have dipped slightly. January can always be a sluggish month for demand, but this year also restaurant operations have also been disrupted due to Covid. Over the past six months or so, restaurants have also been cutting down their menu offering, at times been at the expense of lamb. Consumer confidence could also be hitting demand as consumers look for ways to tighten their purse strings.
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