British lamb prices fall to five-year low
Lamb prices in Britain fell to their lowest level since 2010 this past week, according to the ADHB.
It says new season lamb liveweight prices have seen sharper falls recently with prices for the week ended June 24 down to 170.7p/kg, over 17p lower than the previous week.
The daily average price on Wednesday June 24 was as low as 160.2p/kg, almost 19p down on the week earlier.
According to the ADHB the falls have left the current weekly price trailing over 42p lower than the same week in 2014 when prices were not falling as rapidly.
It says this is the lowest June value for the new season trade since 2010.
Supplies in Britain remain at a high level its says, amid some challenging trading conditions, while the pound continues to strengthen.
The ADHB says these falls come despite numbers of lambs coming to market being well below numbers last week.
It says numbers in the past week were back 15% on the previous seven days, suggesting the falling prices have put producers off bringing lambs forward.
However, throughputs do still remain above levels seen in 2014, for the second week in a row. The ADHB says with numbers up by over 1% on the week, it shows how good the lamb crop has been this year.