Sheep price update: lambs edge up another 10c/kg as ewes strengthen

Demand for lambs continues to outstrip supplies coming on stream, leaving agents competing for tight numbers.

Quotes have moved upwards by another 5c/kg to 10c/kg, with farmers with high numbers in a particularly strong negotiating position.

Deals of €8.60/kg have been reported more freely on Monday towards the top end of the market, with reports of sellers holding out for 5c/kg to 10c/kg more.

A high percentage of lambs traded by individual sellers or via groups are trading from €8.40/kg to €8.50/kg.

Producer group co-ordinators continue to report big challenges in negotiating higher prices and not losing sheep to the live trade.

The two ICM plants remain the only plants to have officially moved quotes to 23.5kg carcase weight.

Some other plants have moved to this weight limit for groups and sellers with greater selling power, but have not moved their carcase weight limit across the board.

Ewe trade

The ewe trade has also firmed, with ewes trading in the main plants upwards of €4/kg.

There are deals being completed at a range of €4.20/kg to €4.30/kg for top-quality ewes, while in plants or abattoirs most active in the ewe trade, top prices are rising to €4.60/kg to €4.80/kg, with prices touching on €5/kg in the highest priced deals.

The live trade remains a good outlet for farmers struggling to negotiate for both ewes and lambs.

Northern Ireland

The trade in Northern Ireland is also moving upwards, with 5p/kg to 10p/kg higher paid.

Base quotes remain in the region of £6.60/kg or the equivalent of approximately €8/kg at a sterling exchange rate of 82.8p to the euro.

Regular sellers and producers trading at the higher end of the market are securing 10p/kg to 20p/kg above base quotes. All plants have moved to 23kg carcase weight since last week.