The producer’s share of the retail lamb prices fell by a single percentage point between October and November to 47%.
Despite the proportion now slipping below the five-year average, the farmgate share remains higher than it was 12 months ago, when the measure was at its lowest level since 2008.
See also: Festive demand lifts lamb trade
The fall was attributed to a 2% decline in lamb farmgate prices combined with retail prices creeping subtly upwards last month.
Producer share of retail price has continued its steady drop since May, ignoring the trend seen in the past two years of prices picking up from October.
Stable cattle prices added to a slight retail price lift last month ensuring the farmgate proportion remained just above half at 51%.