Lamb price at new 2008 low
An average of 20 cents/kg (7p/lb) was wiped off the prices on offer from processors Tuesday, with prices hitting a new low for the year to date.
Producers are suffering as exporters come up against a very sluggish market for lamb, attributed to stronger supplies on the continent leading to hotter competition, and a holiday season lull in demand.
The base prices dropped to 350 cents/kg (125p/lb) on Tuesday, and it is some time since sheep farmers were asked to take that price for their lambs.
Some farmers were reported on Tuesday to have secured deals yielding 10 to 20 cents/kg more for their lambs. The usual bonus payment of 6 cents/kg (2p/lb) applies for quality lambs.
There are no indicators from the mart sales, because sales at Corrin (Fermoy) and Kilkenny normally held on Monday were transferred to Tuesday this week.
The trade has also been badly hit in Britain, where prices have come back sharply, losing the equivalent of more than 20 cents/kg (7p/lb), to return around the equivalent of 340 cents/kg (121p/lb) to farmers by the end of last week. Although prices are reported to be stable in France at 405 to 410 cents/kg, the volume of sales was low in a sluggish market.
