Sheep trade: Lamb prices topping €7.50/kg, as factories pull quotes again

Factories are continuing to insert downward pressure on lamb prices, with quotes among factories widening significantly.

Kildare Chilling has once again moved to drop its base price for lambs this week by 10c/kg from last week to €7.40/kg, plus a 10c/kg quality assurance (QA) bonus – payable up to a 21kg carcass weight.

However, despite this, they lead the way in comparison to what other factories are currently offering for lambs.

Moreover, Kildare Chilling was the only factory to go on record with a quote for Tuesday.

Quotes Agriland heard were on offer from other plants ranged from €7.15/kg up to €7.30/kg, so there is a very wide variation opening up among factories.

Top prices sellers are achieving for lambs appear to be around the €7.40-7.50/kg mark, with the majority of lambs moving at prices from €7.20/kg up to €7.50/kg.

Once again, the ewe trade remains much unchanged. Demand remains firm and with that, so do prices. Reports indicate prices continue to range from €3.20/kg up to a top price of €3.50/kg.

Furthermore, there appears to still be a good appetite for good-quality hoggets from factories, with Agriland hearing of €6.50/kg being paid for such quality hoggets at one factory.

IFA comment on lamb prices

To get a bit more insight into the trade at present, Agriland spoke to the sheep chair of the Irish Farmers’ Association (IFA), Sean Dennehy.

He said: “Lamb prices are topping €7.50/kg at the moment, with prices generally ranging from €7.20/kg up to the €7.50/kg mark. Supplies are tight and demand is strong.”

The IFA sheep chair said it’s important farmers sell hard while moving lambs as they become fit to maximise returns from the marketplace and to avoid sending light lambs to the factory.