Sheepskin prices stabilised
Most of the factories have dropped their quoted prices by 6 cents/kg (2p/lb), but the factories which paid at the higher rates last week are back by as much as 12 cents/kg (4p/lb) to a general base prices of 330 cents/kg (118p/lb). The usual bonus rates payable at the individual factories apply.
Higher prices had been sustained over the previous week due to improved demand for lamb in France in the lead up to the Muslim festival, Ramadan, but demand has taken on a quieter tone since.
Prices for sheepskins have stabilised after a recent fall.
But lamb supplies to the factories have continued strong, with the weekly throughput running at 10 to 12% higher than for the corresponding weeks in 2003. Also putting pressure on prices in France is a strong UK supply.
Year to date throughput of lambs at the Irish factories are almost 10% higher than for the same period last year and the average price for the year to date is less than 1% lower than in 2003, averaging 374 cents/kg (134p/lb).
There is very little change in total sheep supplies in the UK, while in Northern Ireland the lamb throughput is 9% up on last year.
