Supply scarcity drives lamb prices

IFA National Sheep Committee Chairman Laurence Fallon said lamb prices are well up at the factories, driven by scarce supplies and rising market prices in France and Britain.

The factories have increased their base price to €3.64/kg plus 6c/kg with a top price of up to €3.84/kg yesterday.

“Irish factories are getting up to €4/kg including VAT, this price is equivalent to €4.20/kg. Based on this price return, factories could well afford to increase their prices by at least another 20c/kg here,” said Mr Fallon.