Lamb processors have cut base quotes by as much as 20p/kg this week, wiping over £4 off the value of a 21kg carcase from the beginning of the week.

Base quotes are now on 410p to 415p/kg. Larger suppliers and producer groups are securing an additional 5p/kg over base, making lambs worth £86 to £88 at the upper end of the market.

Processors indicate the price cut comes as supplies of finished lambs have increased significantly over the past week, and demand has eased from the mart trade, reducing competition for numbers.

Mart managers indicate that prices are down by £3 to £6 per head on last week, with the live trade now closely aligned to factory prices.

Prices in Britain are also down by 20p/kg, with 430p/kg being paid on new season lambs. Processors operating in the Republic of Ireland have also reduced prices, with €5 to €5.10/kg on offer at the top end of the market.

This converts to a sterling equivalent of 422p to 430p/kg.

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