Lamb prices have recovered to 530p/kg this week as processors look to secure numbers ahead of the Eid Al-Adha festival on 19 July.
Lamb prices have now risen by 60p/kg from the 470p/kg on offer two weeks ago.
The bank holidays this week has created a small backlog on farms, with factory agents reporting that more lambs were available from mid-week on.
However, agents also report a greater percentage of lambs being drafted at lighter carcase weights and suggest that this will leave supplies tight over the remainder of the month, which should help stabilise prices after the Eid festival.
In Scotland, lambs are also holding firm at 545p/kg, with plants in England at similar levels.
In the Republic of Ireland, a lack of grass growth in the southern half of the country has pushed more lambs onto the market and prices have steadied at €6.50/kg, which converts to 525p/kg.