Large volume of lambs sold for Muslim festival
Large volumes of lambs have been sold for Eid Muslim Festival according to the IFA’s latest market update. It says on the back of this supplies are expected to tighten with prices of €4.50/4.60/kg quoted for this week.
Bord Bia have said the sheep trade remained steady in recent days on the back of strong demand with little change in price reported. Trade was good across our key export markets.
It says average lamb prices were steady last week with base quotes for Spring lamb generally making around €4.30 and €4.50/kg. Prices paid for cull ewes continue to make around €2.30 to €2.50/kg.
Supplies for the week ending September 27th stood at around 61,000 head, which is almost identical to supplies for the corresponding week in 2013. Cumulative supplies are around 2% higher than 2013 figures standing at around 1.93 million head.
In Britain, Bord Bia report that there was an uplift in trade on the back of increased demand in the run up to the Muslim Eid-Al-Adha festival. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €4.59/kg dw towards the end of the week.
In France, demand increased this week as a result of the upcoming Muslim festival. However there are plentiful supplies of UK lamb on the market and demand is expected to ease next week after the festival. Grade 1 Irish Spring lamb price was making around €4.67/kg (inclusive of VAT) during the week.