Another bleak week as prices continue to fall
WHILE Galway bask in the glory of their All-Ireland victory, the sheep farmers in the west — or anywhere else for that matter — are not celebrating, as quotes for lamb slumped yet again yesterday.
This week’s cut is once again in the order of 10-20c/kg and brings the total reduction in the factory price for lamb over two weeks to 20-40c/kg. The official factory quotes for lamb as of yesterday morning run from a low of €4.60/kg at Dawn Ballyhaunis to a high of €4.80+10c/ kg quality assurance at Kildare Chilling.
All of these quotes come with usual Monday morning rider that prices may vary as the week goes on depending on supply. These quotes are now in the majority of cases behind last year’s prices at this time by about 10c/kg.
The biggest offender this week is Moyvalley Meats, whose price of €4.70/kg is a full 20c/ kg less than last week’s.
Moyvalley, though, are not bottom of the pile: that honour yesterday belonged to Dawn Ballyhaunis with their price of €4.60/kg, just above Dawn are the two ICMs on €4.60/kg plus 10c/kg bonus — 10c/kg less than their quote for last week.
Then come Moyvalley, with Kepak Athleague squeezing in just above them at €4.70/kg plus 5c/kg bonus. This leaves Kildare Chilling top of the pile yet again on €4.80/kg+ quality assurance of 10c/kg.
It’s good to be top no doubt but Kildare too reduced their quote from last week by 10c/kg.
The only positive thing that can be said is that quotes for cull ewes remain as they have been for a while — steady.
Both ICMs are on €2.50/ kg, as are Dawn, with Kepak unchanged on €2.60+5c/kg bonus, while Kildare continue on €2.60/kg plus quality bonus of 10c/kg.
As regards the trade for culls, while their prices have remained fairly steady in recent times, one factory buyer I spoke to said he feared what he called a “ewe-nami” as farmers come to make decisions in relation to their older breeding stock and the €10/hd sheep scheme.
For the moment, though, the tide in relation to possible ewe price reductions remains out.
In summary then, prices on the ground for lamb appear to be in the region of €4.90/kg, and depending on who you talk to, the effect of a lot of sheep having been killed last week should stabilise the price, while some factory bosses maintain that numbers are still strong, with others saying they are not over-run.
On the continent it is hoped that trade into France may improve with the reopening of schools after the summer break.
However as sterling has weakened, British lamb maybe starting to look attractive to French restaurants and supermarkets.