Base quotes for Thursday are unchanged and range from €6.30/kg to €6.40/kg.

Reports indicate that plants not quoting are also offering similar base quotes of €6.35/kg.

While base quotes are unchanged, there is more life in the market in the last week and this is reflected in a strengthening in the mart trade and reports of sellers with greater negotiating power securing 5c/kg to 10c/kg higher prices.

This has introduced a wider differential between quoted and paid prices.

At the top end of the market, prices are reported as ranging from €6.60/kg to €6.70/kg.

Frustration

Some producer groups and sellers handling significant numbers and trading on a base-quotes-plus-bonus payment are being left frustrated by the lack of movement in base quotes and trading in the region of €6.55/kg to €6.60/kg.

Prices at entry level to the market are in the region of €6.45/kg to €6.50/kg.

The stronger appetite exhibited by factory agents is being influenced by relatively tight supplies.

The higher prices being offered to certain sellers encouraged more sheep forward, with last week’s sheep kill up by 6,332 head and recorded at 56,477. However, this is 5,557 head below the corresponding week in 2021.

Northern trade

Quotes and prices have firmed in Northern Ireland. Plants that were last week trying to bring prices under £5/kg had to quickly reverse this move.

Prices have increased by 10p/kg to 15p/kg over the last week, with base quotes for Thursday at £5.10/kg or the equivalent of €6.05/kg at Wednesday afternoon’s exchange rate of 84.5p to the euro.

Agents purchasing lambs for exporting for direct slaughter in southern plants have been more active over the last week.

This is reflected in the number of lambs exported for direct slaughter in southern plants increasing last week by 967 head and recorded at 6,386.

Ewe trade

The ewe trade is firm following last week’s 5c/kg to 10c/kg increase in quotes by some plants. Prices are typically starting at €3.50/kg, with significant numbers trading from €3.60/kg to a top of €3.80/kg.

Producers with heavy ewes should continue to weigh up whether the mart or factory is the best outlet.

There are reports of deals of upwards of €4/kg being done for top-quality ewes delivered to tight specification.

The increase in ewe prices also attracted higher numbers forward, with throughput of 9,169 head rising by 1,441 on the previous week.

Finishing challenges

Factories continue to report a significant number of under-fleshed lambs coming on stream, with significant numbers of lambs killing as low as 40% to 42%. Reports indicate there are fewer farmers supplementing lambs and this will add to continued tight supplies and lower overall production volumes.