Lamb prices have fallen by 50c/kg to 60c/kg, or by €10 to €12 per head on a 20kg carcase, over the last week. The cut follows a period of peak processing when 132,000 head, were processed in the two weeks coinciding with the Islamic festival Eid al-Adha, some 25,000 head above normal.
Base factory quotes for Thursday range from €7/kg to €7.10/kg, plus QA payments, with top prices of €7.35/kg to €7.40/kg.
Processors cite reduced demand and markets readjusting for falling prices. There is also more lower-priced New Zealand and Australian lamb entering the UK market.
Farmgate lamb prices at the end of June in Australia and New Zealand are reported by the European Commission at just €3.50/kg and €3.80/kg, respectively, with concerns mounting over tariff-free trade agreements.
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