Lamb prices have rebounded, with local plants lifting quotes by as much as 20p/kg to a base of 655p/kg.

However, deals are generally being made at 660p/kg, although there are reports of 670p/kg being paid for heavier lambs suited to the butcher trade.

Last week, processors moved swiftly to slash sheep prices after Ramadan reached its conclusion. However, with supplies of factory-fit lambs in short supply, buying agents were chasing numbers at the start of this week.

Base quotes for hoggets have also increased by 20p/kg to 620p/kg as processors struggle to source stock.

Where farmers can supply greater numbers, deals of 630p to 635p/kg are on offer, with payment being made to 23kg.

Marts are also seeing reduced throughput, which has added £3 to £5 per head to prices. Meal-finished lambs are generally returning £138 to £145 with hoggets making £130 to £150 depending on quality.

Prices are generally holding firm in the Republic of Ireland. New-season lambs are returning prices around €8.10/kg to a 20.5kg carcase weight limit, which is in line with the trade in NI.

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