Lamb prices surge by up to 20%

THERE was a surge in lamb prices at the factories yesterday with prices showing gains of up to 20%.

Quoted prices at the processors increased to a base of 400 cents/kg (143p/lb) — an increase of 58 cents/kg (21p/lb) on prices quoted for Tuesday — as demand was driven by restrictions in Britain in the wake of the FMD outbreak.

Further gains were achieved by individual producers in direct deals with the factories as demand for lambs by the processors intensified to supply the void on the French market where the effect of the British ban is having immediate effect on supplies.