Sheep trade: Lamb prices topping €7.30-7.40/kg

Lamb prices are once again on the move again this week with factories moving to increase base prices by up to 20c/kg from late last week.

Last week, many producers with strong negotiating power were securing returns of €7.20-7.30/kg for lambs; however, at the start of this week, many are believed to be securing deals of €7.30-7.40/kg for lambs at the top end of the market.

Factories are once again staying very quiet this week, with quotes very hard to come by for lambs and indeed ewes.

The only factory to go on record with a quote for lambs is Kildare Chilling who is offering €7.10/kg plus a 10c/kg quality assurance (QA) bonus for Tuesday – up 20c/kg from late last week.

Irish Country Meats, Kepak Athleague and Dawn Meats Ballyhaunis offered no quote for lambs or ewes when contacted by Agriland.

Going by reports, the majority of lambs appear to be moving at prices at and above €7.00/kg. In terms of weights, some factories are really sticking to 22kg. However, in saying that, deals up to weights of 22.5kg to 23kg are being secured also.

There were reports of factories talking down prices in an attempt to cool down the trade; however, those efforts appear to have failed going by what was seen at marts yesterday, with prices for those finished lambs up on last week, with mart managers reporting factory agents to be extremely anxious for lambs.

In Athenry Mart yesterday, lamb prices were up €10/head on the previous week, while down in Kilkenny, George Candler said that a “super trade was seen for lambs, with supplies not meeting the excellent demand on the day”.

Meanwhile, the ewe trade again fails to make any forward movement like what is being seen with the lambs with prices continuing to reach as high as €3.30/kg with some reports indicating prices hitting €3.40/kg.

‘Strong start to the week’

Speaking to Agriland, Sean McNamara of the Irish Cattle and Sheep Farmers’ Association (ICSA) said that the trade is once again starting on a strong footing this week.

He explained: “Lamb prices are once again strengthening with €7.30-7.40/kg on the table this week.

“Factories cannot source the lambs they need and are being forced to pay up in order to get a hold of supplies.

“Farmers are in a very strong position when it comes to negotiating and should fight hard to secure the best possible return they can for their lambs.”