Lamb supply down 20% this year but price trend steady after recent turmoil

THERE was a sense of relief for lamb producers as prices steadied this week after recent market turmoil had robbed their profit margins.

The trade opened on Monday at the factories with prices on a par with last week, at a base of 465 to 460 cents/kg (166 to 164p/lb) on offer, plus the usual 6 cents/kg (2p/lb) quality bonus.

The supply of lambs has tightened and is down 20% compared to the same time last year, but processors do not seem hugely interested in buying lambs. Intake at the factories has dropped below 35,000 head per week.