Factory agents are digging in hard on price and resisting upward movement despite keen demand for lambs.

There are two levels where factories are working hard to keep a lid on price.

A number of plants continue to try to offer an opening price of €7.70/kg for quality assured lambs despite the two Irish Country Meats (ICM) plants increasing their opening quote last week to €7.80/kg for quality assured (QA) lambs.

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Groups and regular sellers are negotiating above these quotes, but some agents are trying to dig in on price for producers handling small numbers.

Some mart managers comment that they have witnessed lambs from such sellers being offered live in recent days.

At the higher end of the market, agents are trying to hold the line at €7.90/kg to €8/kg.

Producers that were trading in this territory before last week’s price increase have pushed for a price above the €8/kg mark, but for many agents they are not willing to pass this price point with a stand-off developing in cases.

There are some deals reported above the €8/kg mark, but as yet they are confined to sellers with excellent bargaining power.

Agents are also holding the line at 22.5kg carcase weight with only a small number of deals paid to some sellers and groups at 23kg carcase weight.

Northern Ireland

There are also signs of more life in the trade in Northern Ireland, but agents are also trying to keep a lid on price at a base of £6.40/kg (€7.26/kg).

Regular sellers and groups are trading from £6.45/kg to £6.50/kg with trading operating at the top end of the market securing 10p/kg above the going rate.

Agents purchasing lambs for export to Ireland and Britain are said to be active and adding competition to the trade. Reports indicate demand in Britain is firmer with returns climbing above the £6.70/kg (€7.60/kg) mark.