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IFA national sheep chair Sean Dennehy has said factories are increasing lamb prices as a result of a strengthening in the lamb trade within the past week.
He said: “Factories are paying 30c to 35c/kg over quoted prices to get stock. The reality is [that] factories are not able to get lambs at the lower quoted prices and are having to pay a lot more.”
Top prices
“Farmers are being paid €5.60 to €5.65, with top prices of €5.70/kg seen in the last few days. Ewes are making €2.65 to €2.80/kg.”
The important Muslim festival of Eid Al-Adha begins on 30 July is creating increased demand for stock, as seen in the UK.
“Good grass growth is driving farmer demand. The store trade is also very strong in the marts, with 35kg lambs making €85,” said Dennehy.
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