Factory prices for lambs are steady at the start of the new week, with the vast majority being sold in the €6.00/kg to €6.20/kg range, with a few exceptional deals at 5c/kg or 10c/kg more.

Factories are keen to buy lambs, but less keen to move prices up.

Similarly, farmers have good supplies of grass for the time of year and with the store lamb trade good, it is a case of the market supply and demand being in line, with nothing to move it either up or down.

Prices had gone through a rocky spell for a few weeks before stabilising last week and the fact that it has continued into this week will be welcomed by farmers, with lambs coming ready for the factory.

Good news

There was further good news for sheep farmers at the end of last week with the deal being struck to open the market into China.

While this won’t be taking deliveries immediately, it is nevertheless a huge confidence builder for the industry that Ireland will be able to access the biggest sheepmeat import market in the world.