Lamb prices are continuing to rise this week due to tight supplies, according to the IFA’s latest lamb price uptake.
It says €5.25-5.30/kg is widely available to farmers, with top prices of €5.40/kg being paid.
Bord Bia says the sheep trade has continued to edge upwards on the back of solid demand coupled with some tightening in supplies.
It also says trade across our key export markets was reported as continuing its recent uplift.
Base quotes for lambs last week were making around €5.00/kg with selected lots achieving higher prices. Prices paid for culled ewes were making around €3.00-3.10/kg.
Supplies at sheep export meat plants for the week ending January 10 stood at around 46,000 head which was 5% higher than the corresponding week in 2014.
In Britain, Bord Bia says the trade was reported as remaining firm on the back of strong demand both domestically and internationally.
The SQQ live price for new season lambs in England and Wales was making the equivalent of around €5.60/kg DW towards the end of the week.
In France, it says there was some increase in the trade on the back of tight supplies coupled with a rise demand on the back of the poor weather.
The price for Grade 1 Irish lamb was making €5.62/kg (DW incl VAT) towards the end of the week. Promotions are on going on shoulders, chops and forequarter cuts.