Sheep Trends: prices jump to €8.30/kg to €8.50/kg

Sheep prices have jumped over the last week, with prices rising from 20c/kg to 30c/kg. Base quotes have increased by 20c/kg and are averaging around the €8.20/kg mark for quality assured lambs in most plants.

Farmers with greater negotiating power and groups are achieving returns of €8.30/kg to €8.35/kg for R grading QA lambs, while, at the top end of the market, prices of €8.40/kg to €8.50/kg have been paid to secure sales of large batches of lambs.

Deals also continue to be negotiated on weight. The two Irish Country Meats (ICM) plants in Camolin and Navan are the first plants to move to 23.5kg carcase weight across the board.

Other plants are paying it, but on an infrequent basis, while there has also been some deals completed at 24kg to get deals over the line.

Reports indicate that the higher price is attracting more sheep on to the market, but numbers remain well behind 2023 levels.

The latest sheep kill data for last week shows throughput marginally rising by 1,487 head to 37,227.

The tightness in supplies is very quickly put in context, with throughput running some 18,613 head below the corresponding week in 2023.

Year-to-date throughput is now running over 315,000 head lower, with no signs of any great recovery in the kill.

Reports indicate there may be more sheep about this week, numbers remain well below the norm.

The ewe and ram kill of 2,928 fell by almost 200 head on the previous week and is running almost 2,600 lower on the corresponding week in 2023.

Ewe quotes have increased with factories looking to all avenues to boost numbers. The two ICM plants have increased their ewe quotes by 30c/kg to €4/kg.

Reports indicate that ewes are trading in the majority of plants from €4/kg to €4.20/kg for heavier carcase weight ewes.

Plants and abattoirs specialising in the ewe trade have also lifted quotes, with Ballon Meats increasing by 20c/kg and now quoting €4.80/kg for ewes.

Northern Ireland

Factory base quotes in Northern Ireland have increased by 10p/kg to 15p/kg to average £6.60/kg. This is the equivalent of €7.97/kg at Wednesday afternoon’s stronger sterling exchange rate of 82.8p to the euro.

Groups and regular sellers are securing 10p/kg to 15p/kg higher, with top prices above £6.80/kg (€8.25/kg). Carcase weight limits have also been increased, with intense pressure from producers to match limits available elsewhere.

The number of sheep exported south for direct slaughter remains low at over 3,000 head, while reports indicate exports to Britain and continental European countries is totalling in the region of 1,000 head.

British prices have also jumped, rising over the last week to an average of £6.86/kg, according to the AHDB, and now heading for upwards of £7/kg.