Tight supplies and intense buying competition between processors operating on both sides of the Irish border have given hoggets a price lift of 40p to 50p/kg this week.

At NI plants, a base of 490p/kg was on offer mid-week, but buyers are having to pay £5/kg such is the demand for factory-fit hoggets.

On a 22kg carcase, this makes hoggets worth £110 at the upper end of the factory price range. However, further price rises are expected to come as factories try to keep pace with an increasingly strong live trade.

Competition between buying agents in the marts is fierce, and farmers with good-quality hoggets to sell are benefitting.

Live trade

Prices in the live trade start at £110, rising to £120, although some top-quality lots made as far as £125 earlier this week.

This puts the live trade around 40p/kg to 70p/kg ahead of the factory trade at the top end of the market.

Fat ewe prices are also strengthening, with prices of up to between £114 and £125 being paid.

Competition

Agents buying for southern Irish plants are extremely active in local marts as supplies of factory-fit hoggets are drying up south of the Irish border.

Factory prices there range from €5.80 to €6/kg at the top end of the market, although the higher end of the price range is reserved for specialist finishers killing hoggets on a weekly arrangement. This converts to a sterling equivalent of £4.85/kg to £5/kg.

With southern plants paying to a 23kg carcase limit and northern plants paying to a 22kg carcase limit, agents buying for southern plants have a price advantage.

The short-term outlook for the market is for prices to remain strong as supplies of hoggets continue to tighten.

It all points to a strong start to the spring lamb trade in April.