Week of scarcity drives hogget price up by 5p/lb

IT has been a good week for sheep producers, who are benefiting from one of the largest weekly increases in prices for hoggets in a long time, as scarcity drives the market.

Hogget prices are up14 cents/kg (5p/lb) week-on-week at the factories, after this week’s trade opened strong on Monday and improved further on Tuesday. In the marts, prices were slightly stronger on Monday, but were expected to do better on the back of the improvement at the factories, as the week progressed.

Factories opened the week’s trading with base prices ranging from 353 back to 350 cents/kg (126p or 125p/lb), adding further gains on Tuesday, when the base price increased to 358 cents/kg (128p/lb).

The supply of hoggets to the factories has tightened, while demand in both Britain and France has improved, which completes a formula for higher prices at any time of the year.

The reduction in the number of lambs at factories and live sales in Britain has resulted in a big jump in prices on offer. Factory prices have improved by 15 to 25 cents/kg, to the equivalent of around 360 cents/kg, with improvements of €2/head at live sales.

Lower levels of supply on the French market have led to higher prices, lifting to around 380 cents/kg delivered for both Irish and British supplies.

Here, in the marts, very strong demand from the domestic trade pushed butchers hoggets up to €41 over €1/kg at Fermoy on Monday, where 850 head were on offer. Factory lots ranged from €16 to €25 over.

There were 1,300 head on offer at Kilkenny Mart on Monday. Trade was slightly improved, with factory hoggets dearer by €2/head.