Lamb prices down 10c/kg
The general quote from the factories for this week is 850c/kg plus the usual bonus of 10-20c/kg for quality as applicable at the particular factory.
The hogget/lamb trade at the factories remains under pressure this week, with price cuts for the second consecutive week further reducing the returns to suppliers.
Factory quotes for the hogget/lambs have been reduced by a further 10c/kg across the factories as confidence in the trade continues to weaken.
The processors are blaming a weaker market for lamb as consumers react to the higher prices by reducing their weekly spend, which is having a knock-on effect on the trade right back to the suppliers to the processors.
Suppliers are reporting that the general run of prices being paid is around 870c/kg for this week, but deals for larger numbers are being reported to return 875-880c/kg at the top of the trade.
Suppliers to the factories are reporting the factories putting more pressure on the quality and weight issues of hoggets being supplied these weeks.
"They (factories) are complaining about hoggets that they regard as being overweight and too fat, with threats to penalize these in the coming weeks and suggesting more application of a cut-off weight for carcasses," explained one supplier.
"They are still interested in getting a decent weekly intake, and numbers available to the factories or the live sales have dropped back, which should benefit a bit of stability over the coming weeks," they added.
The holiday on Monday meant that some live sales were deferred. The overall situation of the live trade is that entries have declined, but demand remains firm at slightly lower prices, with butchers' lots making up to €150-155 over.
