Processors warn of lamb price slump
On top of last week’s cuts, processors have slashed up to 20 cent/kg more off prices, severely reducing the value of lambs.
Almost all of the factories this week are quoting 520 cent/kg (186p/lb) plus the quality bonus. The exception is the Co Kildare based Moyvalley Meats, offering an all-in 510 cent/kg.
Processors warn that prices could slip further, due to the weaker trade on the continent.
In the marts, prices eased as much as €6 per head at sales on Monday.
There was an increased sale of 700 head at Fermoy Mart on Monday.
Butchers paid €111 to €125/head, or €65 over to €76 over. Factory lots sold for €105 to €115 per head, or €60 over to €70 over. There was an increased sale also at Kilkenny Mart on Monday, and a weaker trade for the 1,100 head on offer, with prices back as much as €6 per head.
Butchers’ lambs sold for €68 over to €73 over, and factory lots made €58 over to €73 over. Stores sold for €45 over to €58 over.
Supplies have strengthened at the marts and the factories, adding to the pressure on the trade.
Trade in Britain for spring lambs has slowed down in response to a strong increase in supplies over the last week.
By the weekend, live market prices stood at the equivalent of 669 cent/kg (239p/lb)
In France, the market weakened during the past week as stronger supplies from Britain and to a lesser extent from Ireland met slower demand. Towards the weekend, prices for Irish grade 1 spring lamb were reported at between 600 and 620 cent/kg.
