Lamb prices, since the early part of July, are back €21 on a 21kg carcass when the latest factory price cuts are taken into account.
Factories reduced lamb prices coming into this week by a further 20c/kg, which combined with last week’s cuts represents a fall of up to 60c/kg in just over a week.
This is leaving base prices at the start of this week at €6.30/kg for factories that offered a quote.
Since the early part of July, which coincided with the Eid al-Adha festival, prices have fallen by €1.00/kg.
Prices that were on offer just over three weeks ago at €7.30/kg, meant a lamb killing out at 21kg gave a return to the farmer of €155.30.
This week, a base price of €6.30/kg means a lamb killing out at 21kg gives a return of €132.30 to a farmer
This reflects a fall of €21 on a 21kg carcass in the space of just over three weeks.
Ewe prices have also been on the receiving end of downward pressure in the last few weeks.
Since base prices peaked at €4.00/kg in early July, factories have moved to reduce ewe quotes back to €3.30/kg – a fall of 70c/kg.
This reduction of 70c/kg for a 40kg carcass represents a loss of €28, as the price for a ewe at €4.00/kg was coming in at €160/head, whereas at €3.30/kg, a return of €132/head was being achieved.