There were moves by factories over the weekend to pull prices further, with base quotes falling by anywhere from 25c/kg to as high as 40c/kg on midweek levels.

This left the majority of plants quoting a base of €7.50/kg to €7.60/kg on Monday for lambs.

When quality assurance (QA) bonuses and producer negotiating power are factored in, it leaves a high percentage of sheep trading in the region of €7.60/kg to €7.80/kg.

Renewed pressure on hoggets

Hogget prices also came under renewed pressure, with base quotes reducing back to the €7.00/kg mark.

Sellers handling small numbers are securing returns of €7.10/kg to €7.20/kg for QA hoggets, with groups securing an extra 10c/kg by means of producer bonuses.

Reports also indicate that suppliers handling large numbers continue to secure well above the quoted prices, with many of these deals built on a supply pattern spanning back a number of months.

Ewe trade

There is a wide differential in the ewe trade, with some plants reducing quotes to €3.00/kg, while others are staying solid with a quote of €3.20/kg to €3.30/kg and paying 10c/kg higher.

This is leaving a differential of 30c/kg between outlets and highlights the importance of assessing all available outlets, including the mart trade, for those with ewes to sell.