Lamb
Lamb
Price movements
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Lamb ddwt Y 17.5kg
Month-on-month Change
Year-on-year Change
Lamb ddwt trd saleyard dom SA
100/kg
Month-on-month Change
Year-on-year Change
Lamb ddwt lgt ref
100/kg
Month-on-month Change
Year-on-year Change
Lamb ddwt 12–21.5kg mp
Month-on-month Change
Year-on-year Change
Top 3 Takeaways
- Global lamb in a strong bull market: All four benchmarks are positive YoY — NZ +34%, AU +42%, EU +16%, UK +7% — driven by tight Southern Hemisphere supply and strong demand from Muslim-majority import markets.
- Southern Hemisphere leading the rally: NZ and AU lamb have nearly doubled from 2024 lows, reflecting drought-driven destocking followed by a demand-driven price recovery as flocks rebuild slowly.
- UK bouncing back: A +7.54% MoM surge brings UK lamb to its highest since early 2024, driven by seasonal spring lamb demand and improved export pricing.
US-Iran War Impact
- Potentially significant. The Gulf states are among the world's largest lamb importers for Halal markets. Conflict-related economic disruption could suppress Gulf demand. Shipping routes through the Arabian Sea affect NZ/AU lamb exports to the Gulf. Conversely, disruption to local Middle Eastern lamb production could temporarily support global prices.
Lamb
Price forecast
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