Solid sheep export demand this week

The sheep trade eased slightly this week as the increase in supplies evident over the past few weeks continues. However, trade is being helped to some extent by solid export demand across the key export markets. This is according to Bord Bia‘s latest update this afternoon.

“Quotes for lamb were generally making €4.50/kg, with more available for select lots. Prices paid for culled ewes eased slightly, with general quotes of around  €1.80/kg being reported,” Bord Bia noted.

Weekly supplies for the week ending 31 August were ahead 1,100 head higher compared to the same week in 2012 at 61,600 head, it said. And to date this year, sheep supplies at meat export plants remain almost 12 per cent or around 170,000 head higher at 1.65 million head.

Bord Bia also noted trade across the UK weakened throughout the week on the back of some further increase in supplies being marketed. “By the weekend, new season lamb at live markets across England and Wales were making the equivalent of around €4.42/kg,” it said.

In France, Bord Bia reports that trade remained steady in line with some boost in demand levels following the return to schools and work for many families.

“Prices for Irish Grade 1  lamb were still making up to €4.72/kg by the end of the week. Demand for product has been helped by some promotional activity that has been evident across the category over the past week. Trade is expected to be under some pressure next week if the continued increase in UK supplies materialises.”

Ex Rungis Lamb Prices (covered lamb) 4th September, 2013 (€/kg) and Grade U, French 6.70, Imported 4.90: R, French 6.10, Imported 4.80; O, French 5.90, Imported 4.60