I reckon the moisture is more 'captive' in a heavy/cast iron pot with lid, than in an oven with hot air swirling about, thereby preventing the joint from drying out. Always used to roast a venison joint in an oven bag in the oven, larded with bacon and sitting in half a bottle of cheap and nasty red wine with attendant herbs etc.
Can't remember the last time we cooked a roast in the oven. Its always in the cast iron pot either on the fire, or cast iron pot on the induction hob when the sun is out.
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