The UK sheep price has rebounded strongly this week. The AHDB reports that the new-season lamb (NSL) standard quality quotation (SQQ) price finished the week ending 26 August on an average of £2.05/kg (€2.25/kg).

This fails to take into account the strong recovery in price this week, with Thursday’s NSL SQQ recorded at £2.19/kg (€2.41/kg), an increase of 18p/kg on the previous week.

Tighter supplies

The recovery in price is coming on the back of tighter supplies. The AHDB reports throughput at British auction marts reduced by a high figure of 21% to 99,417 head.

Throughput in factories is also running behind 2019 levels, but it must be remembered that throughput in 2019 was driven by farmers pushing higher numbers on to the market ahead of the initial Brexit date of 31 October 2019 for the UK to leave the EU.

British lambs prices are running 30p/kg ahead of the corresponding period in 2019 and 28p/kg above the five-year average.

As demonstrated in the price graph, the British price is running 30p/kg ahead of the corresponding period in 2019 and 28p/kg ahead of the five-year average, with domestic and export demand reported as strong.

Reports indicate deadweight prices have also increased by 5p/kg to 10p/kg this week, with average prices ranging from £4.70/kg to £4.80/kg (€5.16/kg to €5.27/kg), while regular sellers are securing more from the market.

Stronger Irish trade

A strengthening in UK prices is also good news for Irish farmers, as it improves our competitiveness in key export markets.

Factory agents got even fitter for lambs on Friday, with an increasing number of regular sellers pushing returns to €5.35/kg to €5.40/kg.