Lamb trade picks up as pound weakens and Easter demand nears

The lamb trade is strengthening off the back of the seasonal Easter procurement drive and a weak pound.

Liveweight prices were up for the second week running despite an 8% increase in auction throughput (about 10,000 extra head) to 129,618 in the week ending 15 March.

According to data collected by AHDB Beef and Lamb, the GB liveweight SQQ rose 2.7p to 191.3p/kg on the week, moving up about 6p/kg in the past three weeks. GB deadweight prices also improved by 4.8p/kg to 428p/kg.

See also: Supplies set to put pressure on sheep prices this year

However, prices were still below that of the same week last year, when the liveweight price was 199.9p/kg – nearly 9p/kg higher than now – and deadweight prices reached 442.8p/kg – nearly 6p/kg stronger.

Procurement demand ahead of the Easter season had improved prices, as expected, said AHDB, but a recent weakening of the pound was also helping to drive sheep meat exports to the eurozone.

On Friday, sterling was worth €1.282 compared with €1.297 about 10 days ago, although it was even lower on Wednesday at about €1.272.

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