UK lamb prices have fallen year on year, subdued by a large lamb crop. However, prices have increased lately due to a seasonal reduction in supplies and strong demand. In contrast, New Zealand lamb prices have surged in the wake of lower supplies, with farmers switching to more profitable dairy farming.
Turkey prices in the UK, meanwhile, have grown by 6.8% year on year, despite having fallen noticeably since their December peak due to higher slaughterings. Slaughtering the past December was up 8.1% to 9.1 million birds.
Data Box
Wholesale meat prices
Brazilian beef prices have risen for the first time since September. The increase, of 3.7% month on month, was driven by strong exports, which were up 39% in Q4 on the corresponding period the previous year. Hong Kong was the biggest destination for Brazilian beef, the former colony having imported a whopping 78,000 tonnes.
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