Further slide in lamb prices
The export plants reduced their quoted prices by up to 11 cent/kg (4p/lb) yesterday dropping prices to their lowest this year for the new season lamb with base prices ranging 375-364 cent/kg (134p-130p/lb).
Strong supplies of lamb from Britain at low prices and poor demand from consumers in France remains the underlying cause of the continued slide in prices, the future of which remains uncertain on the export market.
There is a strong home trade for lamb, which is taking a sizeable volume of supplies and underpinning prices to producers. The slight improvement in prices on Tuesday appeared to have brought a few more lambs to the factories, but producers are finding it hard to accept a drop of over 50 cent/kg in two weeks.
The trade for lambs steadied a bit yesterday with prices at Cahir Mart improved on last week. Butchers lambs sold from €30 to €36 over €/kg.
Beef prices at the factories dropped by 0.5p/lb to 1p/lb on average over last week, according to the pay sheet returns. The average paid for R3 bullocks was 87.6p/lb within a range of prices from 90.7p/lb (paid by Carrigans of Donegal) to the lowest factory average of 86.4p/lb. Average prices were slightly higher at AIBP factories at Bandon and Waterford, slightly improved at Dawn’s Waterford factory and slightly lower at the Dawn Midleton plant.
The average price for R3 heifers was just ahead of the bullocks at 88p/lb. The highest factory average of 93.3p/lb was paid by AIBP, Waterford.
Martin Ryan
