Steady sheep trade this week, €4.70-4.80/kg quoted

The sheep trade remains steady this week as demand on both the domestic and key export markets remains firm. This is according to Bord Bia’s latest report out this morning.

The latest Kantar consumption figures shows Irish lamb consumption 19 per cent  higher in the month ending the 7 July compared to corresponding period last year. It found quotes for lamb are generally making between  €4.70-4.80/kg, with more available for Quality Assured lamb. Prices paid for cull ewes were generally making between €1.85-2.00/kg.

“Weekly sheep supplies for the week ending the 3 August were around 1,500 head lower compared to the same week in 2012 at 57,100 head. To date this year, sheep supplies are 166,700 head higher,” a market update from Bord Bia noted.

It reported trade across the UK weakened slightly as the week progressed reflecting some increase in lamb being marketed. By the weekend, new season lamb at live markets across England and Wales were making the equivalent of around €4.81/kg dw.

In France, trade has improved in advance of next week’s bank holiday on the 15 August, according to Bord Bia.

“However, demand for Irish product is likely to ease after this, until the last week in August reflecting the return to school for many families. By the end of the week, the Irish Grade1 lamb was making close to €5.03.”

Ex Rungis Lamb Prices (covered lamb) 7th August, 2013 (€/kg)

Grade U, French 6.40, Imported 5.30:    R, French 5.80, Imported 5.20;    O, French 5.70, Imported 5.00