France is leading the way in lamb price with €8.00/kg available as of the week ending October 29, according Bord Bia’s sheepmeat price tracker.
The tracker gives a breakdown of average sheep prices for Ireland’s main competitors on the European and global markets.
The French price is closely followed by €7.28/kg in Spain, which is €1.15/kg greater than the Irish price at €6.13/kg.
Ireland is ahead of Great Britain, which recorded an average lamb price of €6.00/kg – 30c/kg greater than the Northern Ireland price of €5.80/kg.
The last two markets analysed, two of which take up a large share of the global sheepmeat market, are New Zealand and Australia.
The New Zealand average lamb price for the week ending October 29, was €5.23/kg, with the Australian price under €5.00/kg at €4.81/kg.
Irish lamb price and demand
Looking at the data above, the Irish average lamb price – up to the week ending October 29 – stood at €6.13/kg, which is back from this time last year by 23c/kg when the price for the same period was at €6.36/kg.
When compared with the same time point in 2020, the average Irish price is ahead by €1.22/kg.
Although this reads well, it is the higher costs of production on farms this year which is taking away any positivity that may be taken from these figures.
Bord Bia also said that the deadweight prices currently available are reflective of a more difficult trading environment for lamb.
Inflation pressures are impacting demand for lamb in key export markets and also on the domestic market, with weaker demand in particular for larger and more valuable cuts.