There is no let-up to the downward pressure being imposed on lamb prices. A number of factories took another 10c/kg of their base quotes over the weekend, leaving prices on offer for Monday and Tuesday at a base of €5.30/kg, excluding quality assurance bonuses.

This leaves a high percentage of quality-assured lambs trading from individual sellers ranging from €5.40/kg to €5.45/kg, while producers with greater negotiating power, or those selling through producer groups, are securing returns ranging in general from €5.50/kg to €5.55/kg and hitting €5.60/kg in cases where all bonuses are taken into account.

Ewe trade steady

The ewe trade is steady with quotes unchanged and averaging, in the main, a base of €2.50/kg. Again those with greater negotiating power are securing returns of €2.60/kg, while select producers and agents handling large numbers are capable of achieving 5c/kg to 10c/kg higher.

Contrasting fortunes

The reduction in prices paid to producers in Ireland is in contrast to the UK, where the Ahriculture and Horticulture Development Board (AHDB) reports the Standard Quality Quotation (SQQ) for new season lamb increasing 7p to £2.20/kg. This is a positive development, as with the UK being Ireland's main competitor in many key export markets falling prices there do not also bode well for us.

Tumbling lamb quotes ‘more bad news for sheep farmers’

Sheep price update: no let-up in negative price pressure

Factories are trying to reduce prices by another 5c/kg to 10c/kg, with base quotes for the start of this week back to €5.30/kg in a number of plants.