Upward price trend but exports to France hit
There has been an increase in the number of processors paying at a base of 425 cents/kg, with the usual quality bonus applying, and most of the remainder quoting 420 cents/kg (150p/lb) plus the bonus, with the exception of Moyvalley where an all-in 420 cents/kg is quoted.
Supply has tightened, and there are reports of better than quoted prices being paid by processors in some areas.
In the marts on Monday, the trade was either steady or improved on the previous week, with up to €59 over being paid by butchers for good quality lambs.
Supplies on offer at Fermoy on Monday were light, with a much stronger trade for the entry of 250 head, compared to the previous week.
Butchers paid €90 to €111/head, equivalent to €43 over to €59 over. Factory lots and store lambs sold for €52 to €92, or €27 over to €46 over. There were 1,200 head at Kilkenny Mart on Monday, where the trade was described as solid. Butchers paid €45 over to €53 over. Factory lots sold for €42 over to €49 over, stores €35 over to €44 over.
Sterling weakness continues to make British export lamb more competitive. Towards the end of last week, the average British price stood at the equivalent of 403c/kg (144p/lb), including VAT. In France, the combination of sterling and French industrial action make the trade difficult for Irish lamb exporters. As a result, prices for Irish lamb started last week at about 430c/kg, and came under pressure as the week progressed. Improved trade is expected as November approaches, in the run-up to the Eid al-Adha Muslim festival.
