2012 started out with the highest lamb prices recorded to date for Ontario lamb. Traditionally price drops in June and perhaps a little more throughout the summer and early fall and starts to rise again in November for the Christmas market. As illustrated by the 80 -94 pound price graph below, the price dropped in June, continued to fall into September and did not increase for the Christmas market.
5 Year Average Market Price by Month 80 – 94 lb Lambs
In 2013, live auction prices in Ontario have remained low with the January and February average price per hundred weight $70 lower than 2012. Lamb prices tend to cycle up and down on about a ten year cycle. As illustrated in the price by breeding flock numbers graph below, 2012 is the third drop in the cycle since the start of the graph in 1986. The drop in prices is not unexpected but it is unclear if the price is at the bottom of the cycle yet. The price in the graph below is an average for the entire year and 2012 boasted high prices for the first six months. If price doesn’t rally in 2013, the average for the 2013 year will be below $150 per hundred weight on the graph.
Ontario Breeding Flock Numbers and Average Market Lamb Prices 1986-2012
Lamb prices for the below 79lb, 95-109lb lambs and the 110+lb lambs follow the same basic price decrease as the 80 -94 lb lambs but they don’t have as consistent a price pattern month to month as the 80 – 94 lambs. It is interesting that only the 79 lb or less lambs showed an increase for the Christmas market this past December. The 5 year average price by month is illustrated for the below 79 lb, 95-109lb and 110lb+ lambs in the graphs below:
5 Year Average Market Price by Month Lambs 79 lbs or Less
5 Year Average Market Price by Month 95-109 lb Lambs
5 Year Average Market Price by Month 110+ lb Lambs
Source: The prices on these graphs are weighted average prices for Ontario live market auctions as reported by Agriculture and Agri-Food Canada Red Meat Information.
