Price boom was over as soon as it started

THE rise in lamb prices faded almost as quickly as it arrived, leaving sheep-farmers pinching themselves and wondering if the short-lived boost was only a dream.

As the quoted prices at the factories came back sharply to a 365 to 360 cents/kg (130p-128p/lb) range on Monday, it was almost as if the foot and mouth outbreak in the UK never happened.

However, it did, and the ban on UK exports remains in place. With live sales also banned, prices being paid to British farmers have slipped to the equivalent of 340 to 350 cents/kg.

The price for top grade Irish lamb slipped about 80 cents/kg, to finish the week at around 480 cents/kg delivered in Paris.

If that price holds through this week, Irish exporters purchasing lambs for 360 cents/kg will enjoy an increased profit.

Last week’s surge in price brought a big increase in numbers on offer at marts, where the trade has turned disappointing this week.

There were 1,000 head on offer at Fermoy on Monday. Butchers paid €77 to €91 per head for lambs, which was equivalent to €26 to 40 over. Factory agents bought supplies at €54 to 74/head, or €20 to 29 over.

There were over 1,200 head on offer at Kilkenny Mart on Monday, where a disappointing trade saw returns to producers down by €6 to 8/head. Butchers lambs sold for €24 to 31 over, and the factory lots made €22 to 29 over.