Lamb prices have decreased although they continue to be the highest ever received for this time of year. 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 started to decrease in June and may continue to drop in July and August. It is likely there will be some recovery in price in Late August and September since the Eid al-Adha holiday is in late September this year rather than in October as in the past few years. 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
Due to the Eid ul-Adha holiday entering September, it is expected that the price drop seen in November 2014, 2013 and 2012 will happen in October in 2015. The monthly price graphs are shown for the 95-109 pound lambs in Figure 2 and the 110+ pound lambs in Figure 3.
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 remains high and is following the expected yearly price cycle.
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 July 8, 2015.
Delma Kennedy
Ontario Ministry of Agriculture, Food and Rural Affairs
