450-455 c/kg base lamb price quoted at factories
There has been some improvement in the lamb trade at factories this week, partly brought about by a tightening in the supply of lambs available to the processors.
Price improvements range from 5 cent to 10c/kg, and there is also a narrowing of the price range across processors, who are all within a band of 450-455 cents/kg base price for this week. The usual bonus payments for quality apply, of 5-10 cents/kg. With an all-in price of 460 cents/kg on offer from one processor, there is very little to choose on price between processors this week.
That said, the pattern of paying over the quoted prices for lambs continues, with farmers reporting most of the lambs this week going into the factories at 470 cents/kg, and a sizeable percentage making up to 475 cents/kg, but very few deals above that available. The bank holiday last Monday resulted in live sale days being altered, but the indications for the closing days of last week were that prices had sharpened on the expectation of the factory price rise.
In Britain, the trade experienced some increase last week due to a decrease in throughputs. Prices have increased since mid-October, and the liveweight price for the week ending October 25 was 2.31p above the same week last year.
In France, the trade remained relatively steady last week with little significant change reported.
Grade 1 Irish spring lamb was making around 488 cents/kg (including VAT) early last week.