While prime lamb values slipped slightly at some of the early markets of this week, prices look set to hold up for the remainder of the season due to the reduction of imports from New Zealand and the increased exports to the continent.

On Tuesday, average liveweight values in Scotland cashed in at 219.6p per kg which was a fall of 3.3p on the previous week, while on the Monday, prices slipped 6.4p to 214.9p.

It was a similar situation south of the Border too, with prices dipping almost 5p on the week on Tuesday to 219.0p, with Monday's trading in England and Wales, down a massive 11.5p to 221.4p.

Such values are nevertheless, the highest seen for this time of year, according to those in the know. And, with Easter fast approaching, coupled with reduced imports, trade should remain buoyant for the remainder of the season.

"There is not the same lamb coming in from New Zealand compared to previous years, which is increasing the demand in this country," said Jimmy Fawcett, Hopes Auction Mart's sheep auctioneer at Wigton, Cumbria.

"We sold 1200 prime hoggs on Tuesday to average 245.58p per kg, which is down on the previous week's 267.8p, but prices are still the best they have ever been at this time of year," he added.

Admittedly, some 500 of these were Beltex, but Mules and Swales also sold well at 209p and 197p, respectively.

Mr Fawcett also pointed out that while a lot of hoggs still have to come forward yet, more were cashed during the summer when the trade was good, which has helped the situation, a long with the late spring, which is holding back new season lambs.

Further north, Lawrie and Symington's sheep auctioneer, Gregor Brodie, said well finished prime hoggs are proving more difficult to find, which again is also likely to bolster values in the coming weeks.

Caledonian Marts' Stirling centre was one of the few to report an increase on the week, when their sale on Tuesday balanced out at 224.6p per kg – up 6.7p on the previous seven days and a massive 60.4p hike on the year.

"That's the dearest old season lambs I've sold at this time of the year," said sheep auctioneer, Aly Logan, pointing out that trade is likely to remain buoyant.

"Last week, we had one of the biggest shows of the year with 1250, but that's the numbers about to dry up now. I do think we'll struggle to find the same numbers in future weeks."

Cast ewe values have also been on the up in recent weeks, with several centres witnessing values fast approaching £200 per head.

At Longtown, C and D Auction marts sold 4110 ewes and rams which rose £10 per head on the week, peaking at £181 for Texel ewes. No fewer than 899 heavy ewes sold for £100 or more to average £121.57.

Lightweight ewes were also in demand with Greyfaces peaking at £139 and anysamount at £100-£110.

The good news for sheep farmers this year is that the fall in the value of sterling has also meant that UK sheepmeat is cheaper to import on the Continent. Hence exports of fresh and frozen lamb is up on the year, with the latest figures from HMRC for January showing a 17% increase (1000tonnes) to 7200 tonnes.

Most of this headed to the EU, with Germany showing the largest increase to 1500tonnes, a 59% (550 tonnes) year-on-year increase. Shipments to France remained steady year-on-year, at 3100 tonnes.

UK imports did actually rise in January, by 300tonnes or 5% to tonnes, with the amount from the EU rising by 49% (400 tonnes) on-the-year, to 1300 tonnes. This compares to imports from New Zealand and Australia which declined year-on-year, by 1% (20 tonnes) and 24% (300 tonnes) respectively.

Add to that the fact that there are now 2.1% fewer lambs available for slaughter in the remainder of the 2017-18 New Zealand lamb season coupled with the increase in the amount exported from there to Asia, and old season lamb prices should remain strong for the remainder of the UK's 2017 lamb crop.