Lamb prices show good recovery
Factory base prices increased to range 322-319c/kg 115p-114p/lb), marking the second consecutive week for improvement in lamb prices.
Supplies have tightened in Britain over the past week and at Irish factories intake has slipped around 13,000 head per week lower than the same time last year. Trade in Britain has improved to return €19 over €/kg for live lambs at the markets with a pro rata improvement in the return from the factories. However, exports to mainland Europe are being affected by sterling which has cut the margins to exporters.
In France, prices have gained 20c/kg with the best of imported lamb selling at 370c/kg (132p/lb) delivered. The Irish bank holiday on Monday is expected to have less effect than normal as it coincides with the bank holiday in France yesterday.
There is a very good selling trade in the marts for lambs. There were 800 head on offer at Fermoy with very strong demand for quality lambs. Butchers paid €18 -€32 over €/kg, while the factories paid €10-€20 over. There was a big sale of 2,000 head at Blessington Mart yesterday where the butchers paid €16-€21 over and factory lambs sold at €15-€20 over.
Overall, the lamb trade for Irish producers has continued through a difficult phase of reduced returns. Year-to-date prices paid to producers for lambs is down 8% on the same period last year - a drop of more than 30c/kg over the first 10 months.
Throughput for the year so far at just over 2.2m head is down 1% but the supply of cast ewes is showing an increase of almost 15%.
