Lamb prices show good recovery

Marts: Lamb prices showed gains of 3-6 cents/kg (1p-2p/lb) at the factories yesterday following an improvement in returns from the continent.

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.