The lamb trade has seen a great change around in the past week with prices dropping significantly as throughputs are up 20% on the previous week.

In the week ended 17 July, throughputs in GB were up 29%  for Monday and Tuesday combined, levelling at an increase of 20% on the previous week,  which saw liveweight prices ease significantly. The overall average for the week shows a sharp decline, down 15p to 206.8p/kg, although the trend across the week has been even more significant according to the latest EBLEX report.

While the average SQQ price started at 230.1 p/kg on Thursday 11 July, by Wednesday 17^th it had dropped to 180.6p/kg.

Despite summer being typically quieter for the lamb trade, as consumption drops, the current spell of hot weather seems to have further decreased demand as customers opt for lighter options than lamb.

However, trade has been firm for some time and this drop is largely a correction in trade according to EBLEX although prices seem to have suffered a few weeks worth of decline in only a matter of days.

Some speculators reckon this drop could be an over correction as trade stands at 173.8 p/kg as of 4pm on Thursday 18 July, a stark change to that of the previous week.

Store lambs held well though, up £1.20 per head on the week to level at £61.1. Cull ewes weren’t so good though, seeing a decline in price down £3.20 per head to level at £55.6.

In the meantime, cattle markets continue to do a good trade although prices were slightly back on the week.

Deadweight cattle prices remained strong with in-spec R4L creeping around the 410p/kg level. Demand remained variable as strong prices have meant some customers are slightly put off beef although fine weather means there is plenty of demand on certain cuts such as steak, mince and burgers. Retailers are reporting uplift in barbeque meat sales, according to EBLEX.

While finished prices were good, the market for dairy bred calves slipped this week, down on average about £40 for a continental cross bull calf, as weather means producers are working on other things. However, this is likely to be short-lived as there continues to be a strong demand for calves as replacements as the finished and cull cattle prices remain firm.

In liveweight markets though, despite strong prices, trade slipped slightly on the week with cows down 2.4 p/kg to level at 133 p/kg, heifers down 1.2p/kg to level at 219.7 p/kg while steers stood at 214.4 p/kg, down 0.8 p/kg to the week ending 17 July.

Weather is likely to be a key influence on the market in coming weeks while throughputs will continue to have a heavy influence on the market.