Heavy lamb prices are rising
Prices for heavy lamb in Europe are increasing reaching to €605.4/ 100kg cw. That is 2.5% higher from last month and 10.1% more from December 2019, according to data released by the European Commission. It is also the highest price reported in the last two years in the EU-27 market and it may come as a consequence of Brexit. Lamb slaughtering in the EU+UK market has slow down in most of the countries due to the closure of foodservice channels and that may also support the current price. Nevertheless, there were three major producers that harvested more lambs from January to September, compared with the first three quarters of 2019: the Netherlands (+25.5%), Germany (+4%) and Ireland (+3.8%).
Contrary to this trend, light lamb prices have fallen to €588.1, 4.4% down from last month and -5.6% compared to December 2019. Currently, self-sufficiency rate of sheep and goat meat in the EU is estimated at 95% for 2020, up 1% from last year but production is expected to decline by 18,000 tonnes, from 721,000 to 703,000 tonnes cw. Exports of live sheep have increased in the first 9 months of the year as demand for sheep meat in the EU market has dropped. (see chart below).
Also, there were several export markets that increased demand for sheep and goat meat in the first three quarters of the year such as Saudi Arabia, Jordan, Switzerland and Kuwait.
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