The sheep trade this week is once again starting on a weak note, with both lamb and cull ewe prices coming under further downward pressure.
Since buying came to a finish for the Eid al-Adha festival, factories have reduced prices for lambs in the space of a fortnight, which has seen prices fall by as much as 50-60c/kg.
This easing in factory prices is being felt in the mart trade since then, with mart managers describing a tougher trade for finished lambs yesterday (Monday, July 18), with prices back €2-6/head on the previous Monday.
Prices for factory lambs even struggled to break past the €150/head mark, one mart manager commented.
Factory prices
Since the start of last week, factories have inflicted significant cuts to lamb prices, as mentioned, with base quotes falling by as much as 40c/kg.
From the factory offering quotes, base prices are currently standing at €6.80/kg.
This is leaving top prices for lambs at the start of this week at €7.00-7.10/kg, with 5-10c/kg above this being secured in cases.
Similarly, ewe prices are also on the receiving end of downward pressure, with factories easing base prices for ewes since last week alone by up to 40c/kg.
Base quotes for ewes are currently standing at €3.50-3.60/kg, with top prices reported at €3.80-3.90/kg.