Lamb prices have been trading at record levels, says a provincial livestock market analyst.
In the first four months of the year, market lambs were fetching an average of $283, up 11 per cent from a year ago and 24 per cent more than the five-year average, said Jason Wood.
“Demand for lamb products has experienced a shift over the last year,” he said. “The loss of food service has been offset with increased consumer retail purchases, led in part by a willingness among home chefs and younger shoppers to spend more time cooking non-traditional proteins.”
Prices usually peak in June but last year, prices were stable through most of the summer and fall followed by strong gains, he noted. Canada produces about 40 per cent of its annual lamb consumption.