Tight supply holding lamb price

Tighter supplies of lambs to the export plants has been helping the trade, which is also benefiting from a stronger sterling - making export returns for Britain less attractive - and an improvement in prices on the French market which carried over from last week.

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.