The sheep trade is starting the week like it finished last, with lamb prices coming under pressure.
Base quotes for lambs late last week fell by 10-20c/kg from the start of the week to €6.20/kg and once again, coming into this week, factories have cut base prices by up to 20c/kg.
Base quotes, from the factories that offered a quote, at the start of this week are ranging from €6.00-6.15/kg.
This means quality assured lambs are moving at prices ranging from €6.10-6.30/kg.
With prices at the top end of the market slowly coming back to €6.40-6.50/kg in general but deals up to as high as €6.60/kg in cases have been reported.
The ewe trade has steadied up coming into this week, with base quotes ranging from €3.30-3.40/kg, with top prices reported to be hitting as high as €4.00/kg but generally from €3.60-3.80/kg.
‘Hold out for higher prices’
Sean McNamara, the sheep chair of the Irish Cattle and Sheep Farmers Association has advised farmers to hold out for higher lamb prices.
Speaking to Agriland on the further easing of lamb prices, Sean said: “For farmers, all I’d say is to not panic and hold out.
“Factories are paying more than the quoted prices and if you are getting no joy, the mart looks like the best place for lambs, where prices seem to be holding.
“I know grass may be tight on farms and may be forcing farmers hand to move lambs on but take the time to weigh up what the best option is and don’t give into low ball offers from factories.”