Lamb price at new 2008 low

IT has been another crucifying week for lamb producers, with another hefty slice of their profit margins being eroded as prices slipped further down the scale.

An average of 20 cents/kg (7p/lb) was wiped off the prices on offer from processors Tuesday, with prices hitting a new low for the year to date.

Producers are suffering as exporters come up against a very sluggish market for lamb, attributed to stronger supplies on the continent leading to hotter competition, and a holiday season lull in demand.