The sheep trade continues into the week on a downward trend as base prices at the higher end of the market come back 5c/kg.
However, factories that had inflicted heavier cuts to base prices at the start of the week have held prices.
The alarming fall in prices in the last two weeks or so is a major concern for all producers, particularly those with lambs to market.
Base prices today (Thursday, January 19) from factories that offered a quote range from €5.80-5.95/kg, with quality assured lambs moving at prices ranging from €6.00-6.10/kg.
One procurement manager in a meat processing plant told Agriland that demand is on the floor and that it could take a couple of weeks for prices to recover.
This is not news that sheep farmers finishing lambs want to hear at a time when they have paid out as much as €480-520/t for concentrates to finish these lambs.
Those that bought stores last backend will be feeling the pinch most as at the time the trade was quite good, in the case of lowland bred lambs, with the cost of production not being covered, never mind a return, at current prices.
The ewe trade remains unchanged.