The sheep trade has firmed this week as supplies struggle to match demand levels.
This is according to the latest June update from Bord Bia market watch. Trade is being helped by solid demand across our main export markets in response to upcoming religious festivals.
Quotes for lamb are generally making between €5.25-5.35/kg, with more available for Quality Assured lamb. Prices paid for cull ewes were generally making between €1.80-1.90/kg.
Weekly sheep supplies for the week ending the 22nd June were around 2,400 head higher compared to the same week in 2012 at 49,300 head. To date this year, sheep supplies are 147,600 head higher.
Trade across the UK weakened during the week of 21 June reflecting some increase in lamb supplies being marketed. By the weekend, new season lamb at live markets across England and Wales were making the equivalent of around €5.93/kg dw.
In France, trade has firmed on the back of French Lacaune lamb supplies tightening significantly. By the end of the week, the Irish Grade1 lamb was making close to €6.00/kg. Demand for Irish product over the coming weeks is expected to remain strong as the Ramadan period approaches next month.
Ex Rungis Lamb Prices (covered lamb) 26th June, 2013 (€/kg)
Grade U, French 6.90, Imported 5.70: R, French 6.30, Imported 5.60; O, French 6.20, Imported 5.40
|Week Ending||% Change||Average to Date||% Ch|
|New Zealand *||3.51||n.a.||n.a.||n.a.||3.71||2.86||-22.9|
Graphs courtesy Bord Bia