Ramadan festival continues to boost lamb prices
The lamb trade continues to remain steady in recent days with tight supplies reported, according to Bord Bia.
It says demand is being helped by the upcoming Ramadan festival which begins on June 18. Bord Bia also says that some increase in trade was reported across our key export markets.
Quotes for lambs this week are generally ranging from €5.40-€5.50/kg.
Department figures show that supplies at sheep export meat plants for the week ending June 6 stood at around 44,000 head which was down 8% on the corresponding week in 2014.
Cumulative supplies for the year to date are currently down 1% on year previous levels standing at around 949,000 head.
In Britain, little change was reported in the trade, according to Bord Bia. The SQQ live price for lambs in England and Wales was making the equivalent of around €5.70/kg dw during the week.
In France, there has been some increase in demand reported with good volumes of Irish lamb on the market.
Bord Bia says demand is being helped by Ramadan which is beginning next week and promotions are centred mainly on halal legs, shoulders and chops.
The price for Grade 1 Irish lamb was making €5.83kg (DW incl VAT) in the early part of the week.
Last week base quotes for spring lamb were generally making around €5.20/kg with selected lots achieving higher prices while prices paid for culled ewes were making around €2.90/kg.