Falling ewe numbers in the EU and the UK coupled with last year’s lower lamb crop have resulted in record prices for the finished product and few if any signs of values slipping in the coming months.

With Easter six weeks away and the Muslim festival of Ramadan falling earlier again this year, demand is likely to remain strong until sufficient numbers of prime new season lamb appear on the market.

Average prices in the live markets are already 80p per kg above this time last year and 50p more than at the same time in 2022.

Such has been the demand that at the end of last week, Aberdeen and Northern Marts’ sales at Thainstone Agricultural Centre saw an SQQ of 329.7p and an overall average of 321.1p for 2115 head – up a massive 27p on the week.

The same day saw United Auctions’ Stirling sale of 4565 hoggs level at 320p, while C and D Auction Marts’ event at Longtown cashed in at 326.2p for 3874, with an SQQ of 330.7p.

While trade has steadied at the early markets of this week, with average values ranging between 305-315p, there is a long time between now and July when new season lambs come out in any sort of numbers.

The best are still making big money too, with Harrison and Hetherington’s sale at Kirkby Stephen on Tuesday averaging 325.8p, with an SQQ of 336p.

The phenomenal sale saw 3923 prime hoggs, which included 1252 horned and Mules, level at £148.60. The top price was 500p per kg paid for a pen of 10, 39kg Rouge crosses or £200 paid twice for a Beltex cross hogg and a 70kg Rouge hogg.

“It’s all down to supply and demand,” said Stephen Kirkup, a livestock agent from Northumberland who buys all types of lambs for the export and home markets.

“There is a bit of New Zealand and Australian lamb in the supermarkets, but the export trade is very strong and there are not vast numbers around to supply the home market. Numbers are tight when farmers have put sheep off for stewardship schemes, forestry and rewilding over the past couple of years,” he said.

Mr Kirkup who sells all types of finished lambs throughout Europe, added that the continent is also seeing reduced numbers of sheep due to increased costs of production and the difficulty sourcing labour, hence the increased demand for product when exchange rates remain favourable.

However, while there are no doubt numbers will remain tight for the foreseeable future, Peter Wood, sheep auctioneer at United Auctions, Stirling, advised farmers to sell old season lambs when they are ready.

“If your lambs are not ready, leave them for a while, but I wouldn’t hold onto them in the hope that prices will get dearer when they are already at record levels.

"There is not the same carry over of lambs that there was last year, purely because lambing percentages were lower in 2023 and people have been selling away at sheep when they were ready.”

Further north, Colin Slessor, head sheep auctioneer at Aberdeen and Northern Marts, Thainstone, added that prime and store sheep are both at record levels for this time of year due to the shortage of numbers in the supply chain. This he said, should ensure a strong trade from now until May, although he added that ewe prices have been slower to rise.

Naturally, deadweight prices are also soaring with the latest figures from AHDB for the week ending February 10, showing an SQQ of 662.2p – up 18.7p per kg on the week for 34,181 head, which is down 4.5% in numbers.

Prices across the Irish Sea are also on the up, with average values of 578.2p in the North and 581p quoted in Eire.