Despite previous falls in prices, the lamb market is recovering as trade starts to stabilise and even recover in the week ending July 16, according to the latest EBLEX data.

Whilst the weekly average for GB new season lamb (NSL) SQQ was nearly a penny lower on the week, levelling at 178.1p/kg, trade was far better as the week progressed climbing to 184.7 p/kg by 16 July, a stark contrast to the recent low of 168.9 p/kg on 9 July.

Supply was a key influence on price, as numbers were easing and some producers were reacting to price and not pushing lambs on. EBLEX reckoned that prices could further stabilise as there wouldn’t be the quantity of lambs forward this week (21 July) due to the Royal Welsh Show.

However, liveweight prices were still ahead of the deadweight market which showed significantly decline; the largest week-on-week fall in almost twelve months.

Standing at 419.4p/kg the GB NSL SQQ for week ended 12 July was over 40p lower on the week and has now dropped by over a pound over the past month.

Data for June show that UK lamb slaughtering’s were 8% higher on the year standing at 907,000. EBLEX reckons this is partly because of the larger lamb crop coupled with better grass and a more favourable season.

Store lamb values followed the deadweight trend and are also down on the year as sales get underway around the country. Prices are reportedly down on last year’s value as pressure mounts on the finished lamb trade and also as plenty of lambs are on the market.

In the two weeks to 16 July, over 11,000 store lambs were reported to the AHDB/EBLEX price reporting. With average prices £4.90/hd down on the year, store lamb average prirces levelled out at £55 per head. Cull ewes were also down levelling at £62.6/hd, down £2.40 on the year.