More bite in lamb trade, but prices remain unchanged
Suppliers report more bite in the lamb trade as demand improves, but processors maintain that market conditions do not justify higher prices. File picture
There is a broad consensus among suppliers that there is “more bite” in the trade this week, but processors are not willing to pay any extra on prices.
Quoted factory prices are generally at 770c/kg for lambs, plus the quality bonus worth up to 20c/kg. Some centres had an opening offer for the week at a base of 665c/kg, plus the quality bonus, but are likely to have difficulty getting adequate supplies at the lower price.
Demand for lamb on the market has certainly picked up, but there is caution that pressure on consumer spending, with inflationary pressure and generally rising prices, would not sustain a higher return from the markets.
Neither is there any latitude being shown by processors on increased carcase weight, with the cut-off remaining at 22kg.
Prices have slipped by more than €1/kg in the UK over the past month, while there has been a marginal increase in lamb prices in Northern Ireland over the same period. However, overall, Irish processors claim that current market conditions do not justify higher returns to suppliers at this time.
The larger entries for live sales at the marts are continuing this week, and prices are remaining stable, with good demand for all lots on offer.
Lambs sold for up to €142 over at Corrin Mart on Monday, where the entry remained up.
A lot at 52kg sold for €194, while another lot weighing 53kg also sold for €194, and 52kg made €190.
A pen of six weighing 51kg sold for €190, and three in the lot weighing 54kg made €186.
