Tight supplies have seen processors scrambling to secure lambs this week, leading to a price rise of 5c to 10c/kg on last week. Lamb prices hit €4.70/kg on Wednesday of this week. Last week’s top price of €4.65/kg, which was difficult to secure, has now become freely available at plants.

Farmers who are in a strong selling position with good numbers of in-spec quality assured lambs have managed to negotiate an increase in carcase weight to 23kg, although these deals are limited to regular sellers.

While prices are strengthening, base quotes are unchanged at €4.30/kg. Base quotes have remained static since the week ending 12 September. Lamb groups have commented on this issue, stating that quotes remain unchanged to source cheap lamb from groups.

With the annual kill running almost 47,000 ahead of last year despite imports of lambs from Northern Ireland being down 70,000 head, supplies of finished lamb could be under pressure for the remainder of the year.

Added to this is a buoyant and successful live trade in September, with 27,500 sheep exported, according to Bord Bia. France was the main market for Irish lambs as outlined in Table 1, followed by closely by Belgium. Live exports over 2014 now total 42,674 head. The loss of Libyian market and poor demand during Ramadan means live exports are back 19% on 2013 levels.