‘Prices and demand strong for lambs’

Prices and demand remain strong for lambs this week according to the IFA’s latest lamb market update.

It says processors are, this week, quoting €5.00/kg for lambs, with factories in reality paying as high as €5.20 – €5.30/kg.

Bord Bia says the sheep trade has showed some improvement last week due to continued strong demand coupled with some tightening in supplies.

It also says the trade across our key export markets was reported as remaining strong following the recent seasonal uplift.

Last week, Bord Bia report that base quotes for lamb were making around €4.95/kg to €5.00/kg. Prices paid for culled ewes were making around €2.90-3.00/kg.

Supplies at sheep export meat plants for the week ending January 3 stood at around 38,000 head which was 56% higher than the corresponding week in 2013. Overall supplies for the full year 2014 were up 1% or 17,000 head on 2013 levels standing at around 2.6 million head.

In Britain, Bord Bia says the trade was reported as showing some positivity following the fluctuating trade evident over the holiday period. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €5.41/kg dw towards the end of the week.

In France little change in the trade has been reported.