UK’s sheep trade to remain under pressure
15/10/2014
Eblex director Nick Allen said: “There is always a seasonal drop in price as we hit peak supply levels for the market for sheep meat in October, but there are a number of factors at play which mean, this year, numbers are higher and they are coming onto the market sooner,” he said.
“There is no question that supply is outstripping demand at the moment, not just here but in export markets too. France, for instance, is our most important export market for sheep meat and they are struggling with a poor economic situation. The strengthening of sterling against the euro has done no favours for the trade in this region.
Estimates indicate lamb numbers have been over 3% higher this September compared to last. These increased numbers have likely been compounded by increased weights, which also suggests more are being slaughtered out of spec. This pulls down the average price – though it should be noted that good values can still be obtained by those marketing in-spec.”
While there has been talk of the availability of imported product from New Zealand, levels were around 5% down in August, while prices are up 14% compared to a year ago. This means it is unlikely to be having a significant negative influence on the British market.
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