Sheep trade: Lamb prices fall by up to 30c/kg in the space of a week

Lamb prices have fallen by up to 30c/kg in the space of a week, as factories continue to put downward pressure on prices this week.

Last Monday (September 6) base prices for lambs were as high as €6.20/kg. However, coming into this week, base quotes have fallen under the €6.00/kg mark across the board.

Base quotes today (Tuesday, September 14) for lambs are ranging from €5.80/kg up to €5.90/kg.

Kildare Chilling is leading the way with a base price of €5.90/kg plus a 10c/kg quality assurance (QA) bonus – however, this is back 30c/kg from what was on the table at the start of last week.

Irish Country Meats (ICM) has also seen its base price for lambs fall by 20c/kg from the start of last week and is now on a base of €5.80/kg plus a 10c/kg quality assurance QA bonus.

Again, Kepak Athleague didn’t give an official quote but reports indicate it is in the territory of what Kildare Chilling is offering.

A contact from one factory said that they were going to be sticking tight to the base quote on offer and not moving off it.

The majority of lambs – going by what Agriland has been told – are moving at prices of €5.90-6.20/kg.

Sean McNamara of the Irish Cattle and Sheep Farmers’ Association (ICSA) said that farmers should ignore low quotes for lambs and urged farmers to go to the mart with any heavy lambs.

The trade for ewes has also eased off, with factories pulling back prices for ewes over the past few weeks.

The only official quote for ewes was from ICM which was €3.00/kg; however, going by reports, base prices are as low as €2.90/kg for ewes.

From speaking to factories, the reason for prices weakening for both lambs and ewes is that the numbers coming on stream have been increasing of late.