Lamb supply down 10%, but prices hit by weak market demand
Prices at the factories opening slightly weaker on Monday, and some processors further adjusted prices downwards for Tuesday’s kill.
Base prices at factories on Tuesday ranged from 322 back to 316 cents/kg (115p-113p0/lb) and, in the marts, the factory lambs were at €19 over for the best quality.
The weekly intake of lambs is running 10% lower than last year, but the demand for lamb on the continent is weak.
Prices declined in Britain over the past week, with throughput at the factories on the high side.
In France, demand is reported to be slow, and the retail market is not picking up as would be expected at this time of the season.
Through mid-week, the best of the lamb was selling at 355 to 345 cents/kg, before weakening at the end of the week.
There is a strong supply of both imported and domestic lamb available.
In the marts, there were 900 head on offer at Fermoy on Monday, where butchers’ lambs ranged from €19 over €1/kg to €33 over.
Trade was much weaker for factory lots, which sold at €10 over to €17 over.
At Kilkenny Mart on Monday, all prices remained under pressure, particularly the factory lots.
Butchers paid €14 over to €24 over.
Factory lots sold at €13 over to €19 over.
