Relatively tight supplies of slaughter-fit lambs and greater competition between factory agents has forced upward movement in prices. Ballon Meats have recorded the greatest movement with their all-in lamb quote for Thursday rising by 20c/kg to €7.40/kg. The two Irish Country Meats (ICM) plants in Camolin and Navan have increased their base quote by 10c/kg, with both sites quoting a base of €7.10/kg, plus their 20c/kg quality assurance bonus.
Relatively tight supplies of slaughter-fit lambs and greater competition between factory agents has forced upward movement in prices. Ballon Meats have recorded the greatest movement with their all-in lamb quote for Thursday rising by 20c/kg to €7.40/kg.
The two Irish Country Meats (ICM) plants in Camolin and Navan have increased their base quote by 10c/kg, with both sites quoting a base of €7.10/kg, plus their 20c/kg quality assurance bonus.
Reports indicate some other plants not officially quoting are trying to hold on the same base quote. But those efforts are failing as they are being forced to pay above base to compete, particularly for larger batches.
Groups are securing returns in the region of €7.40/kg for R grading lambs, with U grades 10c/kg higher. Reports indicate that regular sellers possessing greater negotiating power are securing returns ranging from €7.50/kg to €7.60/kg.
Farmers with limited negotiating power should consider the live trade, as higher prices are available. However, such farmers need to take in to account the type of lamb on hand, labour requirement and cost of selling live.
There is also variation in the carcase weight limits. While most have moved to 22.5kg carcase weight, both ICM plants have moved to 23kg deadweight, putting pressure on competing plants. This is especially apparent where agents are competing for significant numbers.
The tightening in supply is evident in last week’s sheep kill, where throughput reduced by almost 2,000 head to 57,776 head. The kill is 4,762 lower than the corresponding week in 2023. Lamb throughput accounted for 49,505 of the weekly kill, down 2,886 while ewe throughput of 8,187 fell from 9,943 head. Throughput for the year to date is almost 200,000 head lower for the year-to-date.
Northern Ireland
Factories continue with their efforts to keep a lid on lamb prices by sticking to a base quote of £5.90/kg, or the equivalent of €7.03/kg at 83.9p to the euro for Thursday. But with numbers tightening in the live ring causing prices to rise, sellers are negotiating £6/kg (€7.15/kg) with ease while those with greater numbers are securing £6.10/kg.
Their cause is being helped by renewed competition from buyers purchasing lambs for exporting to Ireland for direct slaughter. The number of sheep exported last week fell by over 1,000 head to 7,426 head. Prices in Britain remain unchanged at the equivalent of €7.65/kg.
Ewe trade
The live ewe trade is marginally sharper, with more good-quality fleshed ewes topping the €2/kg mark and continuing to be a good outlet for heavy carcase ewes.
Factory quotes are typically in the region of €3.70/kg to €3.90/kg for good-quality ewes, with prices at the top end of the market rising upwards of €4/kg and to a high of €4.40/kg in Ballon Meats.
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