Processors cut lamb prices

Marts: Yesterday was another bad day for the lamb trade with the processors cutting prices to producers by up to 17 cents/kg (6p/lb) in a move that was more severe than expected.

The trade opened on a steady note on Monday with quotes holding at last week’s level of base prices ranging 381-378 cents/kg (136p-135p/lb) and while there were some rumblings of clouds on the horizon for later in the week, producers did not believe any severe adjustment was in the offing and had not conditioned themselves for yesterday’s cuts in prices.

While some of the factories did hold Monday’s prices for the kill yesterday, they were in the minority. Base prices in general fell by anything up to 17 cents/kg (6p/lb) to range 381-364 cents/kg (136p-130p/lb) as France marked “Bastille Day” and the markets went into reverse.