New-season lamb prices fell by almost 20p/kg on the week, to average 314.79p/kg SQQ for the week ending 14 June.
Prices have taken a hit as new-season lambs begin to come through in greater numbers in some regions.
Auction markets throughputs totalled 98,852 head, an increase of 24% (19,105 head) on the previous week.
There remains an element of regional variation, with higher throughputs of spring lambs in many southern and central markets.
On Tuesday 14 June, Ashford Market in Kent saw the number of prime new-season lambs increase by 24.6% on the previous week. The new-season lamb SQQ at Ashford averaged 317.7p/kg, down 19.9p/kg on the previous week.
Welshpool Market had more than 3,000 new-season lambs in on Monday 13 June, averaging 305.08p/kg.
Trade for mid-weight export and supermarket-spec lambs was reportedly strong, with prices reaching 320-340p/kg. Trade for leaner, light lambs was slightly slower.
Industry analysis
The switch to new-season lamb has now completed, with lambs at 40-45kg liveweight seeing the best returns, according to livestock marketing specialist Meadow Quality.
Jonny Williams, joint operations director of livestock marketing group Farmstock, said the main factor behind the drop in prices is a decrease in retail demand.
“Lamb prices have jumped quite a lot during the past month, and they are coming back to a level where processors can sell into retail,” he said.
The quality and confirmation of lambs has been high so far this year, with no shortage of meat on lambs, according to Mr Williams, and many of the new-season lambs are still being creep-fed.
It is unlikely lamb prices will crash, as they are just now reaching a more sustainable level, and they should stay above £6/kg, at least in the short term, he said.
Deadweight
The GB deadweight new-season lamb SQQ averaged 692.9p/kg for the week ending 11 June.
Prices are now 8.2p/kg above week-earlier levels and 27.7p/kg above the same week last year.
Cull ewes
Cull ewes averaged £117.04 a head for the week ending 14 June, down £4.32 a head on the previous week. Throughput was up by 44% (13,819 head) on the previous week.
The Muslim festival of Eid al-Adha begins on 9 July, which is helping to support cull ewe prices.
