One telling indicator of fundamental change across the EU sheepmeat market is the New Zealanders' growing confidence in their relationships with major French buyers. "They're starting to take us seriously, because they know we can deliver," The Grocer was told. The imported lamb and mutton trade in the UK is less speculative than a decade ago, with long forward purchases the norm for chilled lamb and increasingly common for frozen. If the same is happening in France, the result should be more stability in wholesale prices. But, as UK experience has shown, forward trading is a form of vertical integration. Pricing becomes less transparent while behind the scenes volatility may persist. {{MEAT }}

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