Lamb prices have continued to recover in 2014. The monthly average price graphs have been updated for lambs <79pounds, 80-94pounds, 95-109pounds and 110+ pounds. As shown in Figure 1, the monthly average price for 80 -94 lb lambs has been much higher in the first three months of 2014 than 2013. In this early part of the year price seems to be following a similar pattern to average price in 2010. A similar trend can be seen in each of the price graphs in Figures 1 – 4.
Figure 1 5 Year Average Market Price by Month 80 – 94 lb Lambs
In November and December of 2013, prices decreased for the heavier lamb categories after the high experienced in October for the Eid ul-Adha holiday. The monthly price graphs are shown for the 95-109 pound lambs in Figure 2 and the 110+ pound lambs in Figure 3. The price for both categories recovered significantly in January 2014 with monthly average prices similar to those received in 2010.
Figure 2 5 Year Average Market Price by Month 95-109 lb Lambs
Figure 3 5 Year Average Market Price by Month 110+ lb Lambs
As seen in Figure 4, the price of lambs weighing 79 pound or less recovered in December 2013 but is still slightly lower than prices received in 2010. However with Easter in April, it is expected that April prices will increase.
Figure 4 5 Year Average Market Price by Month Lambs 79 lbs or Less
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 on April 1, 2014.