Despite uncertainties as to how the lamb trade would react with the news of a British leave, vote factories have increased lamb base quotes for Monday.

Kepak Athleague has increased its quote by 5c/kg to a base of €5.00/kg for Monday morning. Irish Country Meats has also increased its quote by 10c/kg to a base of €4.90/kg compared to last Thursday’s base quotes. On Friday, farmers were paid €5.10/kg to €5.25/kg including bonuses. Factories in the north also increased prices by 10p/kg (13c/kg) on Friday.

Supplies have been tightening in the last two weeks and factory agents have become more active in the marts trying hard to secure numbers. Lowly stocked beef farmers with surplus grass are attending sheep sales now, keen for store lambs and actively competing with factory agents.

However, procurement officers warn that they are taking a ‘day by day’ approach to the trade and will not try and forecast prices too far into the future.

Sheep Watch: Store trade starting to kick off

Sheep trends: Lamb prices strengthen despite Brexit

Fears of price reductions in the lamb trade have not materialised, with prices increasing instead.