Lamb, Mutton, and Feeder Lamb Prices JAN 2019 – AUG 2022
Average of Class A
Average of Class AB
Average of Class B
Average of Class C
Feeder Lambs
120
100
80
60
40
20
0
Source: Absa AgriBusiness, 2022
For carcass prices, we expect a moderate increasing trend into 2023. This is underpinned by flock rebuilding initiatives that are likely to limit supply over the coming months. For the outer years of the outlook and as with beef, higher economic growth and structural issues negatively impacting supply are likely to further support prices.
Looking Ahead
Feeder lamb prices, in turn, are also likely to follow a modest upward trend over the outlook period. There is some upside risk to this given an increase in exports, with those to the Middle East seemingly gaining momentum.
22
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