Lamb prices lose up to 60 cents/kg

LAMB producers are learning to their cost this week that volatility is not confined to the financial markets, as lamb prices at the factories tumble like nine-pins.

Watching the factory quotes for lambs sink into a landslide, losing up to 60 cents/kg since the opening of the trade last week, has made many producers feeling very despondent.

The signs were beginning to appear, but no one could have predicted such a downturn in such a short time, which has robbed the trade of any life that was in it.

Despite a fall in quoted prices to a base of 420 cents/kg (150p/lb) — a fall of up to 60 cents/kg — there was less interest from the factories in large supplies of lambs on Tuesday, when slaughtering resumed after the holiday week-end, and higher requirements to replenish stocks run down over the long weekend would have been expected.

The slump in the market has been partially blamed on consumer reaction to higher lamb prices in France, leading to a drop in demand and plunging the market into a difficult trading situation, resulting in prices falling by 20 cents/kg. Prices in Britain have come back by the equivalent of at least 30 cents/kg.

Although demand was reported to be steady for a smaller entry of 539 head at Fermoy Mart on Monday, the prices were sharply down compared to the very strong trade of the previous week.

Butcher’s lambs sold for €81 to 105 per head, which was equivalent to €40 to 53 over. The factory lots made €60 to 92 per head, or €35 to 46 over.


Lifestyle

Food news with Joe McNameeThe Menu: Upcoming food highlights

THE health properties of tea have long been advertised. “It maketh the body active and lusty” a 1660 promotion suggested. However, before you dunk your teabag into a mug of steaming water, spare a thought for the environment. Some have polypropylene to help to seal them and it doesn’t decompose.Storm in a teacup: Top 8 loose-leaf teas

Bestselling author Isabel Allende talks to Rowena Walsh about life, grief, and why it’s never too late to fall in loveIsabel Allende: It's never too late to fall in love

Cliffs of Moher Retreat owner Michelle Moroney has written a book on finding self-worth and stepping back from our 24/7 lives. She talks to Marjorie Brennan about the need to unwindMichelle Moroney highlights the need to take stock of our lives

More From The Irish Examiner