In the IFA’s latest lamb trade update it says farmers are resisting factory attempts to cut prices.
It says factories have been quoting €4.40/4.50 for lambs. However, farmers are said to be resisting the price pressure and are being €4.60 to €4.70 with top prices of €4.75 for some deals up to 22kg.
According to latest reports from Bord Bia, trade across our key export markets remains slow on the back of continued weak demand.
It says in Britain, the trade was reported as steady. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €4.68/kg DW towards the end of the week.
In France, demand remains slow due to the holiday season with strong supplies also reported on the market. The Irish Grade 1 Spring lamb price was making around €5.04/kg (inclusive of VAT) during the week.
Supplies for the week ending July 27 stood at 59,850 head, which is around 2,500 head or 5% higher than the corresponding week in 2013. Cumulative supplies are around 2% higher than 2013 figures standing at around 1,434 million head.