Competition for supplies boosts lamb prices
The general quote from processors is 440 cents/kg, with the usual bonus payments for quality, varying between 6 cents/kg and 10 cents/kg.
The alternative on offer from one processor is an all-in price of 450 cents/kg, which is more or less similar.
However, farmers say they are doing deals with the processors for up to 30 cents/kg above the quoted prices, particularly where demand is strongest and supplies are tight.
The trade at the marts on Monday was reported to be ‘firmer’ than the previous week.
There was a smaller sale of 210 head at Corrin, where butchers paid up to €56 over, and factory lots also peaked at €56 over. Kilkenny mart had an entry of 700, with trade described as firm. Butchers paid up to €52 over, and factory lots sold for up to €55 over.
In Britain, throughputs eased last week, while demand remained steady, which resulted in a price recovery, with the weak sterling continuing to make UK lamb exports more competitive. Lambs were making the equivalent of around 416 cents/kg.
In France, the market has seen some improvement on the back of higher demand resulting from bank holidays.
There are plentiful supplies of lighter UK lamb around; it is hoped that demand for legs of lamb will improve ahead of the Christmas period. Grade 1 Irish lamb was making around 494 cents/kg (when VAT is included).
