Sheep price update: another 10c/kg wiped off lamb quotes

Sheep producers with lambs to sell are facing into another challenging week, with base quotes pulled by another 10c/kg.

The two Irish Country Meats (ICM) plants are quoting a base of €7.50/kg plus their 20c/kg quality assurance payment.

Other factories are also reported to have reduced their base quotes by 10c/kg, leaving opening prices 10c/kg lower than ICM, at €7.60/kg for quality assured lambs.

Groups and regular sellers are being paid €7.75/kg to €7.80/kg, with reports indicating that sellers with greater negotiating power are facing firm resistance above this price.

At the lower end of the market, producers handling small numbers and in a poorer bargaining position are being quoted €7.65/kg to €7.70/kg, with agents exhibiting a lukewarm appetite for sheep.

The 20c/kg reduction in price over the last 10 days has reduced mart prices by €4 to €6/head, with greater cuts evident in some marts underpinned by wholesale buyer demand.

Sales held on Monday reported the general range of factory prices for lambs weighing upwards of 50kg ranging from €170 to €175, with some managers reporting the keenest demand for sheep killing around the 22kg to 23kg carcase weight mark.

Select lots of top-quality and heavier sheep sold in cases to €180/head.

Northern Ireland

The trade in Northern Ireland is also facing downward pressure, with base quotes falling by 10p/kg on last week.

This leaves the majority of plants trying to open negotiations at £6.20/kg or the equivalent of €7.16/kg.

Groups and regular sellers are trading in the region of £6.30/kg (€7.27/kg).

There are reports of some agents trying to test sellers' resolve with an offer of £6.10/kg, but producers have typically dug in and secured 10p/kg higher.

Ewe trade

There is no change to ewe quotes, which continue to range in the main from €4.30/kg to €4.50/kg.

Numbers remain relatively tight, but demand is variable between plants. At the top end of the market, plants or abattoirs specialising in the ewe trade are paying €5/kg for ewes delivered to a tight specification.