Local factories had to respond quickly with higher lamb quotes at the start of this week after lambs destined for slaughter here were diverted to competitors south of the border. Others were held back in the hope of a rise in base quotes.
Quotes are generally up 25p/kg on last week to match the offer from southern factories, with 360p/kg widely available for lambs weighing 22kg and the prospect of higher quotes as the week progresses.
The lift in prices is being driven by demand moving ahead of supply across the island. Buyers for southern factories are prevalent in the marts, with prices there up by 20p/kg to 25p/kg over the past few days, and numbers generally tighter than in previous weeks.
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According to sources in local lamb groups, they are also seeing less finished lamb coming forward. The good summer has meant that many lambs are already through the system. In NI, the lamb kill to date is 60,000 ahead of the same period in 2013. Similar trends are being seen in the Republic of Ireland, where 50,000 more lambs have been slaughtered in 2014 compared with the same period last year. This is despite a significant reduction in the total number of NI lambs heading south for slaughter. It all points to a tight supply situation over the next few months.
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Local factories had to respond quickly with higher lamb quotes at the start of this week after lambs destined for slaughter here were diverted to competitors south of the border. Others were held back in the hope of a rise in base quotes.
Quotes are generally up 25p/kg on last week to match the offer from southern factories, with 360p/kg widely available for lambs weighing 22kg and the prospect of higher quotes as the week progresses.
The lift in prices is being driven by demand moving ahead of supply across the island. Buyers for southern factories are prevalent in the marts, with prices there up by 20p/kg to 25p/kg over the past few days, and numbers generally tighter than in previous weeks.
According to sources in local lamb groups, they are also seeing less finished lamb coming forward. The good summer has meant that many lambs are already through the system. In NI, the lamb kill to date is 60,000 ahead of the same period in 2013. Similar trends are being seen in the Republic of Ireland, where 50,000 more lambs have been slaughtered in 2014 compared with the same period last year. This is despite a significant reduction in the total number of NI lambs heading south for slaughter. It all points to a tight supply situation over the next few months.
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