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.

Yesterday’s prices at the processors fell to a level not seen since 2000.

Lamb supply to the factories has built up again following a drop two weeks ago.

Year-to-date returns show that throughput has been down more than 32 per cent on the same period last year. In the beef factories last week, the gradual erosion of prices continued, according to official prices issued yesterday.

There has been a lowering of the average each week for the past three weeks, and a narrowing of the margin between the top-paying and the lowest-paying factories.

The average price paid for R3 bullocks last week was a fraction under 248c/kg, with the highest price of 256c/kg at Carrigans of Donegal, followed by Slaney Meats, Bunclody, at almost 252c/kg.

The lowest factory average was 245c/kg. The average for O3 bullocks was 241c/kg. The highest factory average was 244c/kg at Kildare Chilling and the lowest factory average was 237c/kg.

The average for R3 heifers was 249.5c/kg. The three highest-paying factories were Kepak at Clonee, Liffey Meats at Ballyjamesduff and Slaney Meats at Bunclody.

The average for O3 heifers was 240.5c/kg.

There was very little change in the top prices for cows from the previous week, with a top price of almost 180c/kg paid at Liffey Meats for R5 grade.