Strong farmer resistance and tight supplies of suitable lambs have scuppered factories' attempts to drive lamb prices down to the low levels quoted in recent days, the IFA sheep chair Sean Dennehy has said.
“Buying has started for the Eid festival and factories are very anxious to secure supplies. They are competing strongly in mart sales for lambs and cull ewes,” Dennehy commented.
Dennehy stated that factories are paying €7.00/kg to €7.20/kg, with deals of €7.30/kg being made to secure lambs.
Cull ewes were reported by Dennehy to have been making €3.30/kg to €3.60/kg over the past week.
IFA data shows that last week’s slaughter figures, at 49,325, were back almost 3,000 head when compared with the same week last year.
Slaughter figures for the year to-date are back 81,551 head, a 7% drop on 2020 figures.