After a drop of 40p/kg over the first half of June, lamb prices in Northern Ireland (NI) have jumped 50p/kg in less than one week. Last Wednesday, base quotes at NI plants were £3.60/kg to £3.65/kg (€4.55/kg to €4.60/kg).

But by Friday, factory agents were hungry to source lambs and prices increased to £3.85/kg (€4.90/kg). By Wednesday of this week, NI lamb prices reached £4.15/kg (€5.25/kg).

While Brexit has influenced exchange rates, making northern lambs cheaper to southern plants, the reality is that supplies of lambs have severely tightened north and south of the border in the past seven days.