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Lamb quotes have been slashed by 40p/kg to 530p/kg, and during the past three weeks, factory prices are down £15/head.
While some price deals are being offered they are capped around 540p to 550p/kg, making lambs worth £113 to £115 at the 21kg carcase limit.
Prices are in retreat as supplies increase and competition from buyers working for southern Irish factories has eased.
Prices at Irish plants have plummeted by 50c/kg to €6.80/kg mid-week, which is line with NI counterparts.
Prices in Britain are also easing with 630p/kg on offer in Scotland, down 30p/kg on last week.
However, demand for lamb is starting to ramp up ahead of the Eid Al-Adha festival on 19 July, which should help stabilise the market.
Half of Tier 1 offers are for LESSE
Over 2,700 letters of offer have been accepted by successful applicants in the third tranche of the Tier 1 capital grant scheme, a DAERA spokesperson has said.
“Slightly more than half of these were for low emission slurry spreading equipment (LESSE) and other ammonia mitigating equipment,” the spokesperson confirmed.
The £15m scheme was oversubscribed last December with 3,800 farmers applying for grant funding for machinery and equipment costing between £5,000 and £30,000. DAERA issued over 2,900 letters of offer and 94% of successful applicants accepted their offers.
All letters of offer which include LESSE items are valid for nine months, although all other Tier 1 participants must purchase items and submit claims within four months.
The DAERA spokesperson told the Irish Farmers Journal that 227 claims worth over £1.2m have been received so far and 48 of these claims have been approved for payment.
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