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Store sheep market update: early sale prices remain firm
Thursday, 24 August 2023
In the past few weeks, GB store sheep prices have remained firm as grass growth spurs interest.
Key trends:
- Store prices holding steady so far this season.
- Favourable grass growth driving interest.
- Tighter supplies support finished lamb prices in recent weeks.
Finished lamb prices overview
As the supply of finished lambs moved from old to new season, average prices peaked in May due to spring lambs being slower to come forwards. Prices have since eased back to seasonal levels with some monthly fluctuations. In recent weeks, average finished lamb prices have held above those recorded in 2022. In the week ending 19 August, the GB average liveweight SQQ averaged 261p/kg (+22p year-on-year), while the GB deadweight SQQ averaged 581p/kg (+38p year-on-year).
Head to our webpages for more detail on weekly finished lamb prices:
Store market overview
Average new season store prices have been moving fairly in-line with last year’s levels. Since the first week of June, the average GB store price has generally fluctuated between a low of £76/head and a high of £84/head, around £20 higher than the five-year average.
Grass and forage availability is a key factor supporting the store market at present. Grass growth rates are currently well above long-term averages throughout the country, and market reports suggest that trade in store sheep is firm.
Looking forward
How grass growth continues will be key to how well and how quickly lambs come to market, whether that be for store or finish. If forage availability continues to be favourable for growth rates, we could see lambs marketed earlier, especially in comparison to last year where drought conditions proved challenging for producers. This may have implications for price, especially if domestic demand continues to be difficult. So far this year, trends in imports and exports have helped support domestic prices. We expect positive trade dynamics to continue through the second half of the year, offering support to domestic prices.
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