HCC MARKET UPDATE: NEW SEASON LAMB NEARS £7/KG

AS WE near the festive period, the New Season Lamb (NSL) SQQ deadweight average across Great Britain continues to near the £7/kg mark.

- Commentary by Glesni Phillips (Intelligence, Analysis and Business Insight Executive), HCC

During the most recent week, the average recorded yet another week-on-week price increase - up 3p/kg on the week to 695.0p/kg. The number of NSLs forward fell slightly on the previous week to just under 35,000 head (a 1% increase on the week).

This current level is some 8% lower than the corresponding period last year and reflects a continuous tightness in supply.

Following the week-on-week increase, the average continues to trend around 39p/kg higher than year-earlier levels, and a notable £1.23p/kg higher than the longer term 5-year average. The current average is the highest weekly price since the end of August.