‘Lamb trade stronger this week’
The lamb trade is said to be stronger this week according to the IFA’s latest lamb price update. This comes on the back of two weeks of successive falls in the market.
IFA lamb price update
- Lambs €6.10/kg – €6.20/kg.
- Hoggets €5.50/kg-€5.60/kg
- More for larger lots.
Bord Bia has also said recently that the sheep trade has remained relatively steady on the back of some rise in demand.
However, it says trade was reported as mixed across our key export markets.
Last week base quotes for hoggets were making around €5.20/kg and early season spring lamb was making around €5.80/kg with selected lots achieving higher prices.
Prices paid for culled ewes were generally making between €2.80/kg and €2.90/kg.
Supplies at sheep export meat plants for the week ending May 2 stood at around 44,500 head which was up 15% on the corresponding week in 2014.
Cumulative supplies for the year to date are currently running slightly behind year previous levels standing at around 730,000 head.
In Britain, Bord Bia says some stability in the trade was reported on the back of tightening in supplies due to the shorter week.
The SQQ live price for lambs in England and Wales was making the equivalent of around €5.85/kg dw towards the end of the week.
In France, Bord Bia says the trade was sluggish and little change is expected over the coming week due to the bank holiday.
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.