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AHDB Cattle and Sheep Weekly

22 October 2014

EBLEX Cattle and Sheep Weekly - 22 October 2014EBLEX Cattle and Sheep Weekly - 22 October 2014

Sheep Weekly

Lamb trade holds up In week ended 15 October, the lamb trade at GB auction marts held up somewhat. At 152.6p/kg the SQQ was back just 3p on a week earlier. While prices in the early part of the week were back significantly on the stronger trade of the week before, which was influenced by Eid-al-Adha, prices from Monday onwards have held up better. Despite significantly more lambs forward on Monday, the SQQ was virtually unchanged on the week at 154.3p/kg.

Numbers on Tuesday and Wednesday were also well up on a week earlier but prices eased only modestly, suggesting the downwards pressure of the weeks before Eid may have diminished. However, with the weather turning, it is possible that more lambs could come forward, increasing pressure on price, especially if sterling starts to strengthen again. Ultimately, as always, much will depend on consumer demand.

 The deadweight trade has demonstrated some stability of late, with the SQQ in week ended 11 October virtually unchanged for the second consecutive week at around 354.0p/kg. Sheep meat imports up in August Imports during August were reported to be up 2% on the year. At 5,900 tonnes, this is the highest volume in August since 2008. The key driver was increased shipments from New Zealand, up 14%, and Australia, 15%. These were offset by lower volumes from Ireland and the Netherlands.

Notably, there was a considerable increase in the volume of frozen bone-in cuts, which accounted for over half of sheep meatimports, compared with 40% last August. In the month, the average value was up almost 20% on the year at £4,320 per tonne, with product from all locations more expensive.

 Sheep meat exports were reported to be back 5% on the year at 8,600 tonnes. This was largely due to a decline in trade to France. Despite this, fresh/chilled cuts still performed well, more than doubling on the year and accounting for 20% of all trade to France. In contrast, trade to most other EU markets performed well, as did shipments outside the EU. It should be noted that earlier this year data has been revised significantly, so these results remain subject to change.

Grain Market Outlook AHDB/HGCA’s flagship Grain Market Outlook Conference took place in London on Tuesday. Presentations from the event are available on the HGCA website here. At the conference, a new daily publication on the cereals and oilseeds market was launched. The AHDB/HGCA Grain Market Daily will be published at lunchtime from Tuesday-Friday, with the existing weekly Market Report still being published on Monday.

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