Factory agents are keen to hit the ground running on Tuesday and compensate for a day’s less processing.

The four-day week is on one hand providing a slight reprieve to agents in reducing the numbers of lambs required across the week, but on the other hand factories are keen to try and maximise throughput.

Agents are reluctant to lift the lid on base quotes, with quotes for Tuesday remaining in a range of €6.10/kg to €6.30/kg.

A significant number of sellers trading individually, with lower negotiating power, continue to move lambs at a range of €6.30/kg to €6.40/kg.

Some regular sellers, however, and those trading through producer groups, are having more success in negotiating slightly higher prices, or sweeteners, to close the deal, including carcase weight allowances of 23kg, or allowances on transport costs. Top prices reported ranged from €6.50/kg to €6.60/kg, and marginally higher in isolated cases.

Global prices

The latest Bord Bia sheep price dashboard update shows French and Spanish lamb prices creeping up in recent weeks.

The French lamb price for the week of 21 October was recorded at €8.34/kg, with the Spanish lamb price closing the gap on price to just 5c/kg, at an average of €8.29/kg. The differential stood at over 70c/kg just a few weeks ago.

The differential between the British (€6.55/kg) and Northern Irish (€5.91/kg) lamb price remains at over 60c/kg, with the Irish lamb price (€6.23/kg) positioned in the middle.

The Australian and New Zealand sheep price remains under massive pressure. At just the equivalent of €2.96/kg, the Australian lamb price is running some €2kg lower than the corresponding period in 2022.

While not at such a low ebb, the New Zealand lamb price of €3.91/kg is running €1.40/kg lower year-on-year.