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).