As domestic lamb continues to compete with increased volumes of cheaper imports and demand remains subdued, DW lamb prices eased in week ended 5th January. At 337.5p/kg the combined R3L SQQ was back almost 5p/kg on the week and was over 20p/kg back on the NSL R3L SQQ at the start of December. With the markets resuming full trading after Christmas, LW lamb prices continued to be varied. The average combined SQQ for week ended 9th January stood at 141.8p/kg, down 7p/kg on the week earlier.
Trade on Monday 7th January was ahead of the weekly average with the SQQ at 145.8p/kg, but by Wednesday the SQQ was 10p lower at 135.7p/kg.
Early New Year prospects for domestic lamb prices remain difficult. With lower prices and increased production on the largest global markets and difficult economic conditions at home and on the Continent, pressure on domestic prices could prevail.