Tight supply holding lamb price
But the fine balance in the French market between supply and demand and somewhat more sluggish trading this week is causing some concern for prices from today on as Irish exporters watch the movement in trade.
Paying a base price of 342 cent/kg (122p/lb) the export plants have been hinting to producers that a weakening in return is likely from mid-week, although intake is running at up to 9,000 head per week back on this time last year. The prices have weakened in Britain with the return at the meat plants back around the equivalent of 8 cent/kg (3p/lb) and prices at the live auctions topping around €23 over €/kg equivalent.
The strong sterling has affected the return for British exports to France, despite an improvement in the prices. The best of the imported lamb has been selling at 385-380 cent/kg (138p-136p/lb) delivered. But the concern is that the market is very finely balanced between supply and demand and any negative movement in either will be reflected in price very quickly.
Supplies at the Irish mart sales this week are down which should help to maintain a stable trade overall. Demand is continuing good on the domestic market and although not reaching the peak of last weeks prices, butchers lamb continue a good trade at up to €38 over €/kg for the best lots. They ranged €25 over to €35 over at Fermoy Mart where there was 800 head on offer and sold at €30-35 over at Kanturk yesterday. At Kilkenny up to €38 over was paid with prices ranging back to €29 in what was described as a very sharp trade.
The factory lambs made up to €24 over at Kilkenny, up to €29 over at Kanturk and peaked at €25 over at Fermoy.
