The sheep trade for the week ending October 16 has steadied on the back of reduced supplies.

That’s according to Bord Bia which also notes that the trade was reported as slow across our key export markets.

Base quotes for lamb were generally making between €4.50/kg and €4.60/kg with higher quotes reported for selected lots, while prices paid for culled ewes were making between €2.40/kg and €2.50/kg.

Supplies at sheep export meat plants for the week ending October 10 stood at over 58,000 head which was 20% down on the corresponding week in 2014.

Cumulative supplies for the year to date are currently on a par with year previous levels standing at just over 2 million head.

Cumulative supplies of spring lamb are up 7% on 2014 levels while ewes and rams are back 14% for the year to date compared to the corresponding period last year.

In Britain, Bord Bia says the trade was reported as subdued on the back of a rise in supply coupled with slow demand at present.

The SQQ live price for lamb in England and Wales was making the equivalent of around €4.16/kg dw during the week.

In France, Bord Bia says the trade has eased further due to reduced demand and good supplies of lamb on the market.

Promotions were centred on shoulders and legs of lamb. Grade 1 Irish lamb was making €4.78/kg (DW incl VAT) towards the end of the week.