The average price of EU lamb (Feb-Apr) fell by 8% against the previous average (Nov-Jan) due to declining exports and lower domestic demand. According to the European Commission, the EU-27 sheep & goat production is projected to remain stable y-o-y at 606,000 tonnes (CWE) in 2020, driven by smaller flocks and a slowdown in production growth.
The average price of New Zealand lamb in February to April quarter is 14% lower than the previous average (Nov-Jan), due to a substantial decline in lamb exports to the EU and China. New Zealand lamb exports in 2020 are estimated to be even y-o-y at 305,000 tonnes shipped weight, with a 0.8% increase in lambs processed offsetting the 0.8% decrease in average carcass weight.
From economical to political, all the factors impacting the lamb market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.