Sheep trade update: ‘Tight supplies’ see lamb prices move in the right direction
Quotes for lambs have taken a u-turn in the space of a few days, as reports of ‘tight supplies’ surface.
Kildare Chilling, Kepak Athleague and Irish Country Meats (ICM) have increased their base quotes by 10c/kg for lambs since the start of this week.
At the beginning of this week, base quotes for lambs were ranging between €5.20/kg and €5.30/kg. However, as of now, quotes are ranging between €5.30/kg and €5.40/kg.
When quality assurance (QA) bonuses are taken into account, it is leaving prices for lambs around the €5.40-5.50/kg mark.
This move comes after a couple of weeks of downward pressure on prices. The move to increase prices has been reportedly due to factories being unable to fill their lairages.
Lambs were hard to come by at the start of the week and this is believed to be the reason behind the increase in base quotes.
Going by reports, factory agents are keen to get their hands on stock, as some mart managers report ‘an uplift’ in prices for factory-fit lambs.
Lamb quotes for Thursday, July 2:
- Kepak Athleague: 530c/kg + 15c/kg QA;
- Kildare Chilling: 540c/kg + 10c/kg QA;
- ICM: 530c/kg + 10c/kg QA.