French and Spanish lamb prices have recorded significant upward movement in recent weeks, rising to €9.58/kg and €8.93/kg, respectively. Reports indicate that domestic supplies of lamb in both countries are running well behind 2023 levels.
The latest EU Commission sheep slaughterings figures gives an indication on supplies with French production running 5.5% lower for the first seven months of the year while Spanish production during this time frame was 9.8% lower.
Prices in France are running over €1.50/kg higher than the corresponding period in 2023, at a record level for the time of year. While Spanish lamb prices are running €1.17/kg higher year-on-year.
As detailed in Table 1, British prices are the next highest price recorded on the dashboard at the equivalent of €7.66/kg. There was some slippage in prices reported this week by the Agriculture Horticulture Development Board in their weekly market update.
The organisation reports prices easing by 16p/kg to £6.24/kg or the equivalent of €7.47/kg. Weekly throughput increased by 5% to 210,000 head but is running 10% lower than the corresponding week in 2023.
The Irish price reported of €7.14/kg is exclusive of VAT at 4.8%. When included it lists the average Irish lamb price at €7.48/kg. While the equivalent Northern Ireland lambs price is significantly lower around the €7/kg mark.
The recent improvement in Australian lamb prices has lost some ground with prices running 30c/kg lower than a few weeks ago. An increase in throughput is partly being attributed to inserting some downward pressure on the trade. In contrast the New Zealand lamb price has increased albeit from a low base.
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