Update on market prices and retail sales of lamb and beef

The latest figures from Hybu Cig Cymru - Meat Promotion Wales (HCC) indicate that the Welsh lamb sector is beginning to feel the effects of the Covid-19 pandemic. Since the beginning of the pandemic, the FUW has been aware that the impact of covid-19 could reach different sectors at different times and has highlighted this in numerous stakeholder meetings. There remains significant concern that the lamb sector will be much harder hit later in the year when the supply of lamb peaks.

Up to the week ending 20th June 2020, the throughput of New Season Lambs (NSL) were up by around 15% year on year and liveweight (LW) prices were down by 10 pence per kilogram (kg) on the week in line with seasonal trends. GB prime lamb deadweight (DW) prices saw a more significant decline of 24p/kg on the week but remained 16p/kg above the 5 year average, although Kantar Worldpanel figures during the twelve weeks to 17 May show a drop in total spend on lamb by 15%.

Although the beef sector felt a more immediate impact when the foodservice sector shut its doors, DW prices for all categories across England and Wales were on the rise up to the week ending 20th June. Kantar Worldpanel figures for the 12 week period up to 17th May show an increase in total spend on beef of 27%. Although this surge was dominated by the increased spend on beef mince of 34%, sale volumes of steaks also increased by 24% as a result of industry campaigns to encourage consumers to purchase more prime cuts. It is hoped that prices will continue to rise as some foodservice outlets begin to reopen and the disruption on Irish imports continues.

 

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