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Meat & Poultry
Lamb
13
Sheep meat production in the EU-27 reached 100,800 tonnes during Q1 2021, up 8% y-o-y driven by slaughtering
in Italy, France and Spain. Despite recent production increases, the May average price of EU lamb was recorded at
EUR 6,096/MT, up 1.8% m-o-m and 15.6% y-o-y, mainly attributable to high demand in the domestic and export
markets. A rise in live sheep and frozen sheep meat exports have been lending support to EU lamb prices.
New Zealand lamb prices continued to exhibit a seasonal increase in May. The monthly average price of New
Zealand lamb was NZD 7,394/MT, up 7.6% m-o-m and 6% y-o-y. On average, New Zealand lamb slaughter
decreases seasonally in Q2 of the calendar year, by 37% compared to Q1, indicating lower supplies in the market.
In May, UK sheep meat production declined by 7% on the year to 19,100 tonnes. As a result, the May average
price of UK lamb increased by 3.4% m-o-m and 28.7% y-o-y to GBP 6,238/MT. According to market participants,
lamb prices are likely to stay firm for another six weeks, supported by the increased demand in the run-up to the
Muslim festival of Eid al-Adha.
Lamb ddwt lgt ref EU - EUR/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
4,000
4,500
5,000
5,500
6,000
6,500
BX19 - Lamb ddwt lgt ref EU
Lamb ddwt whs NZ- NZD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
6,000
6,500
7,000
7,500
8,000
8,500
9,000
AN03 - Lamb ddwt whs NZ
Sheep ddwt NIr UK - GBP/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
300
1,300
2,300
3,300
4,300
5,300
6,300
7,300
MF25 - Sheep ddwt NIr UK