Positive news — lamb prices didn’t fall

POSITIVE news on the lamb trade — prices didn’t fall, having changed very little early this week, and any movement was marginally upwards, but not enough to make much difference to the returns to sheep farmers.

Base prices quoted by the processors on Monday ranged from 340 to 342 cents/kg, with a marginal upper limit lift to 345 cents for Tuesday’s kill.

Slightly more positive vibes came from the mart sales, where demand was livelier and prices slightly stronger on Monday.

There was a livelier trade all round at Kilkenny Mart on Monday, where there were 850 head on offer, and prices showed gains of up to €5 per head. The butchers paid €25 to €37 over, and factory lots of lambs sold for €15 over to €27 over.

Intake at factories is running around 20% higher than this time last year. Weak sterling is not helping returns from the UK market, and demand at consumer level in France has eased.

With the factories getting close to 45,000 head per week, and the export trade weakening, they are not under pressure to pay more for lambs.

Supplies have tightened in Britain, and lambs are making the equivalent of 329 cents/kg (including VAT), which means that British exports are going to Paris with a competitive advantage over Irish lamb.

Demand for lamb has eased in France. Grade 1 Irish lamb is selling at around 370 cents/kg delivered in Paris which is down up to 20 cents per kg from previous weeks.