Sheep trade: Factories continue to pull lamb prices

Downward pressure continues to be exerted on lamb prices, as once again factories pull prices this week.

Sales on Monday witnessed a substantial drop off in prices, with mart managers noting price drops of up to €10/head.

Lamb prices have been on a downward slope for the last two to three weeks and this week, factories have moved to ease quotes once again.

No factories were going on the record with quotes for lambs on Monday, but it is believed base quotes were ranging from €6.30/kg up to €6.40/kg – on Monday (June 28).

This is leaving top prices for lambs around the €6.50-6.70/kg mark. Looking at this time last week, prices for lambs are back by up to 50c/kg.

The ewe trade is holding, with prices of €3.40-3.50/kg being secured – going by reports.

ICSA reaction to cuts in lamb prices

Speaking to Agriland about the sheep trade at present, specifically the pulls in prices for lambs, Sean McNamara, the sheep chair of the Irish Cattle and Sheep Farmers’ Association (ICSA) said: “Once again this week we are seeing factories pulling prices for lambs – unjustifiably.

“Factories pulling prices is having a rippling effect on the mart trade, with prices well back and there’s absolutely no need for it.

“Top prices for lambs, you’re talking €6.50-6.70/kg. The ewe trade is holding firm, with prices much the same as last week – at €3.40-3.50/kg.”

Despite the pulls in prices, with the Eid al-Adha festival kicking off on July 19, Sean is hopeful that this will firm up the trade and see prices strengthen.

He said: “With the Eid al-Adha festival not that far away, you would hope demand, underpinned buy this, would strengthen the trade. Buying will commence shortly, so hopefully, the cuts we are seeing will come to a halt soon.”