Store lamb prices trending high

Thursday, 6 August 2020

By Rebecca Wright

Average store lamb prices are currently at exceptionally high levels, averaging close to £70/head. Strong finished prices are undeniably playing a role in supporting prices. Depending upon where in the country you look, some have plenty of grass and lambs are in good condition and finishing well, while others have had to offer supplementary feed and forage in recent weeks.

The profitability of these lambs will largely depend upon how the finished market performs in the coming months. Should demand in either Europe or the UK drop, then finished lamb prices are likely to come under pressure. The possibility of the UK ending the transition without a trade agreement with the EU remains a real risk. However, if restaurants are able to stay open, with consumers encouraged to eat out, then the market could remain tight at least through the autumn. This would support finished prices.

Rebecca Wright

Analyst - Red Meat

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