Only one processor quoting as slump follows Easter supply and demand peaks
With orders for the Easter trade at home and abroad filled, prices quoted by the processors weakened towards the end of last week. That trend continued when factories re-opened on Tuesday after the holiday week-end, with muted interest from factories. Hacketstown was the only plant quoting for supplies on Tuesday. They were offering a base price of 482 cents/kg (172p/lb) for new season lamb, and a base of 386 cents/kg (138p/lb) for hoggets, both prices back on the peak rates of last week.
The supply of new season lamb available for slaughter is still light, resulting in strong dependence on hoggets to supply the market for the domestic and export trades.
There was a strong increase in supply during the weeks prior to Easter, which worked against expectations of higher prices for lamb to fill the Easter orders.
Year to date throughput at the export plants is down 9%. There is a shortfall of 6% in the supply of lambs, with cast ewes showing the biggest drop, down 23%.
In the marts trade, was reported steady at Fermoy on Monday for a smaller offering of 400 head. The spring lambs made €40 to €58 over €1/kg, and hoggets sold at €30 to €46 over.
In Britain, the trade strengthened during the early days of last week, before easing back prior to the holiday week-end.
In France, the new season lamb has been making up to 570 cents/kg, delivered in Paris.
