Sheep farmers watchful as prices tapering off
The factory quotes are similar to last week at 550c/kg plus the usual bonus payments for quality as applicable.
However, it is to be noted that some of the factories were showing more caution this week and holding back on quoting during the early days while monitoring the market trends.
Supplies of hoggets remain tight which is helping to keep the floor under the prices strong.
The situation was similar at the mart sales on Monday where small entries kept up the trade.
There was 320 head on offer at Corrin on Monday where the trade was similar to last week. Butchers paid up to €86 over with a pen of nine weighing 50kg selling for €136/head. The prices ranged from €65 over.
The factory lots sold for up to €67 over. In Britain, the market over the past week remained finely balanced between supply and demand following several weeks of continued strengthening in the trade.
The lambs were making the equivalent of around 516c/kg during the week.
Latest supply figures for the market in Britain for the month of January showed a decline in production with total sheepmeat production down 6% compared to 2015 levels and the deficit being made up with more imports.
In terms of trade, imports of sheepmeat into the UK in December 2015 was up over 40% compared to December 2014 which was the highest level in that month since 2005.
In France, the trade is reported to have slowed on the back of an ease in demand and plentiful supplies of Lacaune lamb available.
Little change is expected in the coming weeks. Grade 1 lamb was making 557c/kg (including Vat) during the week.
