After several weeks of downward price pressure, there is finally some recovery in the hogget trade.

Base quotes for Thursday have increased by 20c/kg on the week in Kildare Chilling to €6.10/kg plus the 10c/kg quality assurance (QA) bonus.

The two ICM plants in Camolin and Navan have increased their base quotes by 15c/kg to €5.95/kg plus their 20c/kg QA bonus, while Ballon Meats remains on its all-in quote of €6.20/kg.

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Reports indicate that base quotes in plants not quoting have increased by 10c/kg to 15c/kg and now sit at a base of €6.00/kg, still lagging behind Kildare Chilling.

Individual sellers with lower negotiating power should now be receiving prices in the region of €6.20/kg, rising to €6.25/kg or €6.30/kg where sellers have significant numbers on hand.

Those selling through groups and with greater negotiating power should see returns increase to €6.30/kg to €6.35/kg, with top prices in the region of €6.40/kg.

Quotes are moving in the right direction, but are still running 55c/kg to 70c/kg behind the corresponding period in 2022 or €12.50 to €16.50 lower on a 23kg carcase.

Confidence among finishers remains on the floor, with input costs eroding any opportunity for a positive margin.

Last week’s kill was recorded at 51,369 head. This is about 2,000 lower than the previous week and with supplies tight at the start of this week, it gives some indication into factories increasing prices to try to entice numbers forward.

Reports indicate that the tight supplies are being influenced by some finishers delaying moving sheep in the hope of prices rising as Ramadan approaches. Ramadan starts on 22 March and finishers should be careful that delaying sales is not just resulting in feed bills accumulating with no net financial gain.

Northern trade

The trade in Northern Ireland remains robust, despite attempts by factories to reduce prices.

These attempts were disregarded by sellers, with plants reverting base quotes upwards by 5p/kg to a base of £5.20/kg, or the equivalent of €5.86/kg at Wednesday afternoon’s weaker exchange rate of 88.7p to the euro.

Producers and sellers handling significant numbers are securing 5p/kg to 10p/kg higher, with top prices reported at £5.30/kg to £5.35/kg (€5.97/kg to €6.03/kg).

Prices in NI continue to run 5p/kg to 10p/kg ahead of Britain, with the latest Livestock Meat Commission report showing the latter averaging £5.11/kg.

Ewe trade

There is more life in the ewe trade and an even greater differential between plants.

Kildare Chilling has increased its base quote to €3.30/kg plus its 10c/kg QA bonus, while Ballon Meats has also increased 10c/kg to an all-in quote of €3.40/kg. This is in sharp contrast to the other plants, which continue to quote 40c/kg lower at €3/kg.