Meat & Poultry
Lamb
The December average price of EU lamb was EUR 7,446/MT, up 1.8% m-o-m and 23.6% y-o-y,
mainly attributable to tight supplies and high domestic demand. According to market participants,
prime stock lamb supplies are likely to remain low through winter and early 2022, with high finishing
lamb prices encouraging sales of lambs earlier and at lighter weights. Meat processors' demand
picked up ahead of Christmas, thus supporting prices.
The December average price of New Zealand lamb was NZD 9,406/MT, down 3.6% m-o-m with a
seasonal increase in supplies. However, prices increased 38.1% y-o-y, recovering from 2020's lows
caused by COVID-19 disrupting international demand. High export demand for New Zealand lamb, with
lower volumes of lamb available on the international market, has supported y-o-y price increase.
In December, the average price of UK lamb rose by 1.1% m-o-m and 19% y-o-y, at GBP 5,367/MT on
the back of high demand ahead of Christmas. UK lamb prices are expected to increase seasonally
with tighter supplies available on the market until early spring. Also, challenges faced by the shipping
sector are removing the potential for New Zealand to send large volumes to Europe and the UK.
6,500
6,000
5,500
5,000
4,500
4,000
7,000
7,500
8,000
Dec 19 Mar 20 Jun 20 Jun 21 Sep 21 Dec 21
Lamb ddwt lgt ref EU - EUR/MT
Sep 20 Dec 20 Mar 21
BX19 - Lamb ddwt lgt ref EU
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
Dec 19 Mar 20 Jun 20 Jun 21 Sep 21 Dec 21
Lamb ddwt whs NZ - NZD/MT
Sep 20 Dec 20 Mar 21
AN03 - Lamb ddwt whs NZ(L)
7,300
6,300
5,300
4,300
3,300
2,300
1,300
300
Dec 19 Mar 20 Jun 20 Jun 21 Sep 21 Dec 21
Sheep ddwt NIr UK - GBP/MT
Sep 20 Dec 20 Mar 21
MF25 - Sheep ddwt NIr UK
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