Lamb prices in many marts have been hit hard this week, with price falling by upwards of €20 to €30/head.

Prices in some marts had been trending well ahead of factory returns on the back of purchasing activity from wholesale buyers and live exporters.

However, with orders for the Islamic religious festival of Eid al-Adha filled and purchasing activity declining sharply prices have come back in line with factory returns, which are also facing downward pressure. Factories have moved to take more control of the trade with base quotes for lambs back anywhere from 10c/kg to 40c/kg to €9.50/kg to €9.70/kg, plus a 20c/kg quality assurance (QA) payment.

Base quotes for hoggets are back by a lesser figure of 20c/kg to a base of €9/kg plus 20c/kg QA payment. Producers in Northern Ireland are facing even greater price pressure.

ABP Linden’s base lamb quote of £8.40 (€9.72/kg) is a drop of 70p/kg compared to last week, while plants have ceased officially quoting for hoggets.