Lamb prices have edged back a further 10c/kg on this time last week with the latest pull in prices now representing a 70c/kg decrease in the last three weeks.
This downward pressure on prices began after the Eid al-Adha festival, earlier this month.
Factories, across the board, are offering the same base price for lambs coming into this week.
These prices are standing at €6.70/kg, with quality-assured lambs moving at prices ranging from €6.80-6.85/kg.
Despite base prices falling 10c/kg, prices at the top end of the market are still being secured from €7.00-7.10/kg.
Base quotes for ewes are currently standing at €3.50/kg, with top prices reported at €3.80-3.90/kg.
‘Prices falling but factories still want lambs’
However, the sheep committee chair of the Irish Cattle and Sheep Farmers’ Association (ICSA) has questioned why there is such a demand from factories for lambs if they are saying they are finding it hard to sell them out the other end.
According to Sean McNamara, it is not right that factories continue to cut lamb prices, despite seeking out them out.
“Lamb pries are back 10c/kg and still, despite this, factories are mad bent on sourcing lambs even though they are saying that markets are in a mess,” he said.
“It doesn’t add up, and we will be looking for answers as to why this is. I’d advise farmers to ignore any low ball offers for lambs and hold out if possible,” he said.
He also advised farmers to be wary of lamb weights when drafting. Lambs should be weighing near 50kg to be killing out at the desired 18-21kg deadweight.
“In order to avoid being penalised by factories, I’d be saying ensure lambs are weighing up on 50kg,” McNamara added.
“Meal is not being fed like it was, with the price of it this year, and that’s no surprise, but as a result kill outs are now falling back to 40%.
“So just be wary when drafting lambs that they are heavy enough that they will kill out at 18-21kg deadweight.”