25 February 2020
Using the Agriculture and Horticulture Development Board (AHDB)’s lamb benchmark index SQQ shows 2020 has had a good start to prices with January and February (to the 8th) average lamb prices the highest since the index started in 2005.
This is a function of lower supply (caused in part by uncertainty about exports due to Brexit) and strong demand in the past few months. The trade relationship with the EU remains an uncertainty, but this will impact the market in the medium term (with the transition period ending December 31, 2020). The lamb crop may continue to shrink in the coming year, so there are a number of potential impacts, both bullish and bearish for the coming year. After the UK lamb sector held its breath in 2019, we see a good start to the year; can values surpass 2018?
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