The factory lamb trade has steadied and, in some cases, is slightly firmer to the tune of 5c/kg on average.
Kildare Chilling continues to offer the highest quote of €7.20/kg plus its 20c/kg quality assurance (QA) payment.
The two Irish Country Meats plants in Camolin and Navan are offering a base of €7.00/kg, plus their 20c/kg QA payment, while plants not quoting are reportedly working off a base price of €7.05/kg to €7.10/kg, leaving opening prices for QA lambs at €7.20/kg.
A high percentage of QA lambs are trading from €7.20/kg to €7.30/kg, with producer groups and regular sellers securing returns of €7.35/kg to €7.40/kg and, in some cases, 5c/kg higher when conformation bonuses are factored into the price.
Numbers coming on stream remain steady, as supply is finely balanced with demand, helping to keep a floor under the trade.
Last week’s sheep kill was recorded at 53,278, a reduction of almost 9,000 head on the previous week.
The lamb kill was recorded at 43,500 head, with the ewe and ram kill increasing by over 1,000 head to 6,320.
Hogget throughput halved to 3,448, about twice the level for the corresponding week in 2022.
Reports indicate this week’s hogget kill is likely to be in the region of 1,000 to 1,500 head.
Prices reported are in the region of €5.80/kg to €6.00/kg for significant numbers killing at carcase weights of 20kg to 24kg, with prices falling €1/kg to €2/kg lower for heavier lots and back to a little over ewe prices for heavy hoggets with teeth set.
Ewe quotes have taken a significant hit, falling by 20c/kg to 30c/kg in some plants.
This leaves ewe quotes in the region of €2.90/kg to €3.00/kg at the majority of plants, but Ballon Meats has opened up a big gap with its quote of €3.40/kg.
It is even more important now to consider the type of ewe on hand, sale weight and the most suitable market outlet.
Carcase weight limits range from 40kg to 46kg for the prices outlined.
Northern trade
With NI marts and factories temporarily closed due to the July bank holidays this week, there is a much steadier outlook to the sheep trade.
Factory agents moved over the weekend to source adequate numbers and maintain throughput levels.
Base quotes remain unchanged on 570p/kg, halting a run of downward pressure on starting prices in recent weeks.
Deals are limited to little more than 5p and 10p/kg above base, depending on the numbers and quality of lambs supplied.
NI prices at 580p/kg converts to €7.20/kg inclusive of VAT. In Britain, lamb prices are more buoyant, with deadweight prices holding between 600p/kg and 610p/kg, depending on the region. Adjusting back to euro and factoring in VAT, British lamb prices convert to levels around €7.44/kg to €7.56/kg.
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