Cooling-off after historic high lamb prices

Sheepmeat market report
Cooling-off after historic high lamb prices

Last week's sheep sale at Kenmare Mart in Co Kerry.

There is a slight easing in the lamb trade at factories for this week, a cooling-off after a history-making run of high prices for several weeks.

Many processors are not quoting forward for lambs this week, indicating caution around their requirements for the week and, more significantly, the price going forward.

On the positive side, prices continued very strong on Monday at the marts, where spring lambs sold for over €190 per head at the top of the trade.

The number of new season lambs coming on to the market continues to increase, and the easing of demand for hoggets has commenced, although they were still required in considerable numbers to meet market requirements up to this week.

Reports indicate that processors have been paying up to 820 cents/kg for new season lambs for this week, but all market indications point towards the ending of the record price levels.

Processors have been paying 730-740 cents/kg for hoggets for the early days of this week, but were not willing to quote forward.

There was a small entry of 350 head on Monday at Corrin Mart, where the trade continued very strong, and spring lamb were sold to butchers for up to a top price of €146 over.

The leading price at the sale was €193 paid for a pen of four spring lambs weighing 47kg.

A pen of five weighing 49kg sold for €190 and a pen of two weighing 47kg made €188.

Hoggets sold from €105 over, with competition for supplies maintaining the strong market.

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