Lamb prices fall to lowest in more than a year

LAMB producers have been hit by another severe cut in prices at the factories, bringing prices to their lowest in more than a year and a half.

Processors dropped prices yesterday by 14-17c/kg, bringing the base price to 336c/kg following further weakening of the export trade for Irish lamb, due to increased supplies of UK lamb and other competing imports.

A drop in consumer demand has also put prices under severe pressure.