Sheep trade: Bright start to the week, as lamb prices strengthen

The sheep trade is starting on a brighter note at the start of this week, with a steady to stronger trade being seen for lambs.

Base prices have increased by 10c/kg in cases, but factories are trying their best not to cough up more money for lambs, although it appears they are being forced to in order to get supplies.

Having put downward pressure on lamb prices over the last fortnight or so, factories, at the start of this week, have appeared to change their tune.

Kildare Chilling has moved to increase its base price for lambs this week by 10c/kg and is now offering a base quote of €6.00/kg plus a 10c/kg quality assurance (QA) bonus.

Irish Country Meats (ICM) remains on a base price of €5.80/kg plus a 10c/kg QA bonus, while Kepak Athleague remains off the table with a quote but it is reported to be bang in the middle of what the other two factories are offering.

Even though some factories haven’t increased their base prices, reports indicate that factories are offering prices well above the base quotes on offer in order to entice lambs forward.

From what Agriland has been told, top prices of €6.20-6.30/kg have been secured for lambs at the start of this week, with the majority of lambs moving at prices of €6.00-6.20/kg.

The cull ewe trade however, is a lot quieter, with the only official quote coming from ICM at €3.00/kg. Top prices, going by reports, appear to be hitting €3.30/kg.