The sheep trade remains relatively strong for the week on the back of strong seasonal demand post Easter.
According to Bord Bia, some strengthening in the trade was reported across our key export markets.
IFA National Sheep Chairman John Lynskey has said the lamb trade remains solid this week with hoggets making €5.80/kg and top prices of €5.90/kg.
He said spring lamb numbers remain very low. Butchers are paying up to €7.00/kg and factory prices ranging from €6.60 to €6.80/kg.
On weights, John Lynskey said after what has been a very difficult spring so far, spring lamb producers need to be getting weights up to 21kgs for April/May and increasing from June 1.
Last week
Base quotes for hoggets were generally making around €5.50/kg and new season Spring lamb making around €6.40/kg with higher quotes for selected lots reported. Looking at culled ewes, prices were generally making between €2.90/kg and €3.00/kg.
Supplies
Supplies at sheep export meat plants for the week ending March 20 were the highest for the year to date standing at over 50,000 head which was up over 8,000 head or 19% compared to the corresponding week in 2015.
Hogget supplies continue to rise while a further influx of new season Spring lamb has also been noted albeit at a low base. So far this year, cumulative supplies are up 11% or over 49,000 head compared to the same period last year.
Net production for the first two months of 2016 is up 11% compared to the same period last year due to higher supplies and some uplift in carcase weights.
Markets
In Britain, Bord Bia says the market has seen some further uplift due to higher demand as a result of Easter. The SQQ live price for lamb in England and Wales was making the equivalent of around €6.85/kg dw during the week.
In France, Bord Bia a buoyant trade was reported on the back of some rise in demand. Demand remains best for chilled legs from New Zealand and retail promotions were dominated by such product.
Promotions were also taking place in a number of retailers on racks of lamb. Grade 1 lamb was making €6.09/kg (DW incl VAT) towards the end of the week.