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Prices for slaughter fit hoggets in Britain are running up to 100p/kg above those on offer at processing plants in NI, as demand outstrips supply.
Quotes at local plants have increased to 575p/kg, up 10p to 15p/kg on last week, with local plants now officially paying to a 22.5kg carcase weight limit.
However, with a rampant mart trade returning £130 to £135 with increasing regularity for well-fleshed lots, deals of 580p to 585p/kg are common place.
That puts local factories in line with processors in the Republic of Ireland, where the main run of producer groups are offloading hoggets at €7.10/kg, payable to 23kg.
Britain
However, prices at local plants are well behind Britain, where slaughter-fit hoggets are making upwards of 680p/kg and marts are recording prices of £140 to £170 for good-quality stock.
With such a price differential in place, a number of buying agents in NI are exporting hoggets to Britain to capitalize on these higher returns.
Ramadan
Supplies of hoggets are expected to tighten further over the coming weeks, just as local factories ramp up throughput in preparation for Ramadan next month.
That will add a further layer of buying competition, boosting prices in the process.
Cattle
While the hogget trade is seeing higher prices on offer, the cattle trade has steadied this week, with price deals for in-spec U-3-grading animals from 484p to 490p/kg, depending on numbers.
Cows are bucking the trend with improved prices of around 365p/kg for R-grades, with good-quality first and second-calving animals pushing 400p/kg.
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