Factory lamb prices cut as much as 20 cents/kg
A further slide in lamb prices at factories has left sheep farmers disappointed.
Hitting a base of 460 cents/kg at the lower end of the market, the price range on offer is 460-480 cents/kg, following the backwards slide of as much as 20 cents/kg in the past week.
Some processors cut by only 10 cents/kg; it all depends on the supply and demand situation at each factory. At the mart sales on Monday, there was a firm trade, with prices little changed from last week, in general. There was a small entry of 200 head on Monday at Corrin Mart, where butchers’ lambs sold for up to €69 over, and factory lambs made up to €67 over. In Britain, the trade eased last week due to a rise in throughput, with numbers up 18% compared to the previous week. Lambs in England and Wales were making the equivalent of around 471 cents/kg last week.
The weakening of sterling continued to boost the competitiveness of UK lamb exports, which have already risen by 18% in value terms for the first half of 2017, compared to the same period in 2016.
In France, the trade last week picked up slightly, due to Eid al Adha demand. However there were ample supplies on the market to meet the higher demand.
It is hoped that the reopening of schools and restaurants after the holiday season will help the trade over the coming weeks.
Grade 1 Irish spring lamb made around 551 cents/ kg ( when VAT is included) last week.