Increased NZ Lamb imports affect UK Lamb trade
An increase in New Zealand frozen lamb imports of 11% for 2022 has led to UK lamb prices falling to a two month low. The drop in prices has come at a time where lambs are mostly fattened on concentrates which have increased sharply in price by around 30% in the past year.
Coupled with a tougher retail environment due to the cost of living crisis, the drop in both live and deadweight prices as well as store lamb prices at a time when prices historically increased is causing concern within the sheep sector.