Sheep prices have dropped to a level unseen since 2009 according to the latest EBLEX report.

In week ended 22 December the deadweight SQQ dropped 16p/kg on the week to average 339.8p/kg. Despite the disruptions of the holiday period prices eased again in week ended 29 December, down almost a penny to 338.9p/kg. Prices are now below the 340p/kg mark for the first time since November 2009.

In liveweight markets, the combined SQQ for week ended 2 January was down 2p/kg on the week averaging 148.8/kg. However a disrupted week previously (ending 26 December) saw prices up by 6p/kg on the week. Compared with the last full week of trading prior to Christmas (week ended 19 December) the latest SQQ price was up by over 4p/kg.

Following the New Year, the daily quoted prices are now for Old Season Lambs (OSL). On Wednesday 2 January the latest OSL SQQ stood at 145.5p/kg. This is over 2p/kg higher than the (NSL) SQQ recorded on the 19 December (the last comparable Wednesday trade).

All wasn’t bad though with cattle prices strengthening on the week to 29 December as fewer throughputs kept prices afloat over the festive period. Standing at 365.0p/kg the deadweight all prime cattle price increased 4p/kg on the week and by almost 5p/kg over the two week holiday period.

Throughputs significantly fell compared to the previous weeks as many abattoirs only worked for one or two days over the holiday period. Supplies remained tight with an estimated 15% drop in slaughtering’s on the previous year.

In the week ending 2^nd January 2013, the liveweight price of cull cows jumped the most, up to 121.1 p/kg, a 9.6 p/kg increase on the week. Demand far outstripped supply which mirrored a similar week in 2011 according to an EBLEX report. There is rumour that processors have little carryover of stock into 2013 suggesting that there could be further upward pressure on price, especially for well fleshed cows.

Young bulls saw the next largest price increase of 193.2 p/kg, up 4.1 p/kg. Heifers and steers rose 0.4 and 0.41 p/kg retrospectively to reach 210.3 and 205.5 p/kg.

The same strong prices weren’t mirrored in the sheep sector with prices somewhat variable as trading hadn’t fully resumed after Christmas yet.