Factories knock as much as 40c/kg off lamb prices
Lamb and hogget prices have been hit significantly this week with quotes falling by up to 40c/kg at plants nationwide.
According to the ICSA’s latest lamb price update quotes from factories have fallen to €6/kg. This compares to prices of €6.40/kg received by farmers last week.
ICSA’s latest lamb price update
- Hoggets up to 24kg: €5.50-5.80/kg
- Spring lamb up to 20kg: €6.00-6.10/kg
- Ewes: €3.00-€3.10/kg
According to Bord Bia the sheep trade has eased again recently on the back of slower demand.
It also says trade was reported as slow across our key export markets.
Last week base quotes for hoggets were making around €5.50/kg and early season spring lamb was making as much as between €6.40/kg and €6.50/kg with selected lots achieving higher prices.
Prices paid for culled ewes were making between €3.00/kg and €3.20/kg.
Supplies at sheep export meat plants for the week ending April 11 stood at around 38,000 head which was 7% behind the corresponding week in 2014. Cumulative supplies for the year to date are currently 1% above year previous level standing at around 565,000 head.
In Britain, Bord Bia says the trade has slowed down following the recent rise in demand over the Easter period.
The SQQ live price for lamb in England and Wales was making the equivalent of around €6.00/kg dw towards the end of the week.
In France, it says a sluggish trade was reported due to an ease in demand.
Promotions were mainly centred on forequarter lamb. The price for Grade 1 Irish lamb was making €6.25kg (DW incl VAT) towards the end of the week.