Last week’s sheep kill increased by almost 2,000 head to reach 58,928, but still continues to run over 10% lower than in 2022.

The number of lambs slaughtered to date in 2023, at 705,406 head, is now running 72,714 head, or 9%, lower than in 2022.

The reduction has almost cancelled out the higher hogget kill (84,247 head higher) in the first half of the year.

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When 23,427 fewer ewes and rams are factored into the equation, the sheep kill has changed drastically, with throughput now 11,871 head, or 1%, lower year on year.

The tighter level of throughput and lighter carcase weights are helping keep a floor under the trade.

Quotes remain in the region of €6.00/kg to €6.10/kg. When the respective quality assurance payments (QA) of 10c/kg to 20c/kg are factored into the equation, it leaves a significant number of lambs trading from €6.20/kg to €6.30/kg.

Producer groups are typically operating towards the top of this price range, with top prices rising to €6.35/kg to €6.40/kg including conformation bonuses.

Ewe trade

The ewe trade remains unchanged and continues sluggish relative to the live trade.

Quotes range from €2.80/kg to €2.90/kg, with the majority of plants trying to keep a lid on prices at €3/kg.

Plants are also implementing a carcase weight limit of 40kg to 46kg, leaving marts a much more appealing outlet for heavy ewes.

The exception to this is Ballon Meats, which is quoting €3.30/kg.

World prices

The trade in Northern Ireland is reported as steady, despite talk of factories moving to try to pull quotes.

Base prices quoted for Thursday are £5.15/kg, equivalent of €5.99/kg at an exchange rate of 85.7p to the euro.

Groups are securing an additional 5p/kg to 10p/kg above this, with prices at the upper end of the market reported at £5.30/kg (€6.18/kg).

The latest market update from the Agriculture and Horticulture Development Board (AHDB) shows the British standard quality quotation (SQQ) price averaging £2.49/kg on Tuesday (€2.87/kg at 85.5p to the euro), down 7p/kg on the previous Tuesday.

Bord Bia dashboard

The latest Bord Bia sheep price dashboard market information shows the collapse in Australian lamb prices halting for at least a week.

Prices are firmer by 5c/kg, but at a very low level of €2.83/kg. New Zealand lamb prices are static at an average equivalent of €3.80/kg.

There is a sharp contrast between prices there and in Europe. The latest lamb prices in Ireland averaged €6.23/kg (€6.54/kg incl VAT).

Prices in Britain are the equivalent of €6.62/kg, while Spanish prices are running at €6.97/kg and the French trade is vibrant at €8/kg.