Elevated supply puts pressure on sheep trade
The sheep trade has come under some pressure in recent days due to elevated supply levels with some decrease in prices reported according to Bord Bia.
It also outlines that a mixed trade was reported across our key export markets.
Average lamb prices decreased with base quotes for Spring lamb generally making around €4.30 and €4.50/kg. Prices paid for cull ewes continue to make around €2.40/kg.
Supplies for the week ending September 6th stood at around 67,000 head, which is around 6,600 head higher than supplies for the corresponding week in 2013. Cumulative supplies are around 2% higher than 2013 figures standing at around 1.74 million head.
In Britain, Bord Bia says the trade continues to show a downward trend. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €4.42/kg dw towards the end of the week.
In France, demand was helped marginally by the return to work and the re-opening of schools. However it is hoped retail promotions will help the trade. Large volumes of competitively priced lamb remain on the market. The Irish Grade 1 Spring lamb price was making around €4.78/kg (inclusive of VAT) during the week.