Spring lamb prices for tomorrow (Friday, June 17) have been slashed by up to 20c/kg, which will come as a surprise considering prices were only on the rise at the start of the week.
After a bright start to the week, which saw spring lamb prices rise by 10c/kg, the trade has now changed swiftly, with prices heading in the opposite direction.
Kildare Chilling is quoting €8.00/kg plus a 10c/kg quality assurance (QA) bonus for spring lambs tomorrow, up to 20.5kg – which is a cut of 20c/kg from today’s (Thursday, June 16) base price.
Elsewhere, other meat processing plants that Agriland contacted offered no quote for lambs with one procurement manager saying “prices will be well back next Monday (June 20) by the looks of things”.
Base quotes for hoggets have also been cut by up to 20c/kg.
‘Can’t understand prices being pulled’
Commenting on the price pull, Sean McNamara of the Irish Cattle and Sheep Farmers’ Association said that he can’t understand the pull in price for lambs.
He said: “I can’t understand it. Lambs are not plentiful and with the Eid al-Adha festival only around the corner, it doesn’t make sense.
“Factories want cheap lamb and I’d urge farmers not to panic and not give into these tactics from the factories and to hold out.
“If factories aren’t playing ball then the marts are a good outlet for lambs at the moment, with prices up this week for lambs.”