In the IFA’s latest market update it reports the lamb trade as being steady. It says supplies are tight and with demand solid.

A latest report from its members says that factories are paying €4.60/4.65/kg with top price of €4.70 paid. Reports also suggest a there is a good ewe trade at the moment €2.70/kg.

According to Bord Bia the sheep trade remained steady last week on the back of solid demand. Little change was reported in trade across our key export markets.

Supplies for the week ending August 15 stood at around 59,000 head, which is slightly higher than supplies for the corresponding week in 2013. Cumulative supplies are around 1% higher than 2013 figures, standing at around 1.55 million head.

In Britain, Bord Bia says the trade continues to remain under some pressure. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €4.62/kg dw towards the end of the week.

In France, demand remains slow as the holiday season continues which sees many restaurants close in August. Bord Bia says there also continues to be strong volumes of UK lamb on the market. However the return to work and the re opening of schools in the coming weeks is expected to help the trade. The Irish Grade 1 Spring lamb price was making around €4.83/kg (inclusive of VAT) during the week.