Lamb prices continue to come under intense pressure, with 20-30c/kg knocked off base quotes for tomorrow (Thursday, July 28).
With cuts of 10c/kg already inflicted at the start of the week, factories have moved to inflict further downward pressure on lamb prices, with quotes tomorrow ranging from €6.40-6.50/kg.
Kildare Chilling has seen its price for Monday come down 30c/kg for tomorrow from €6.70/kg to €6.40/kg.
Irish Country Meats has also knocked off 20c/kg from its price at the start of the week, going from €6.70/kg to €6.50/kg for tomorrow.
Reports from other plants indicate that prices will be at €6.50/kg for lambs tomorrow, which leaves prices for quality assured lambs at €6.50-6.65/kg.
The latest cuts in lamb prices still leave prices trending above this time last year but considering the year it has been for farmers in terms of the increase in input costs, it will still come as a severe blow.
The mart trade is also suffering in light of the pulls in prices, with the trade at marts falling back since Monday.
On top of this, factories have been reporting kill outs falling back to 40% in cases, with the increase in the cost of meal seeing farmers opt, and in many cases forced, to feed less meal to lambs which is seeing lambs killing out at lighter weights as a result.