Tight supplies and increased competition in marts have boosted quotes for fat lambs by a further 5p/kg, bringing quoted prices to 625p/kg, a rise of almost 40p/kg within the last month.
However, with mart prices running close to £150/head with increasing regularity, deals of 640p/kg have been reported, making factory lambs worth £140 at the 22kg deadweight limit.
With factory prices running £5 to £10 behind the live ring, local factories are under pressure to raise the carcase limit to 23kg, similar to plants in the Republic of Ireland (ROI).
Irish plants are paying €7.70 to €7.80/kg to 23kg, which allowing for exchange rates, VAT and the higher carcase weight, equates to sterling prices in the region of 650p/kg.
Exports
Exports of slaughter-fit sheep to abattoirs in ROI are up 2% year on year with 271,017 animals moving south for processing.
Sheep exported to Britain are up 74% with 16,967 shipped for direct slaughter. A further 139,345 animals were exported onto farms, the majority moving to abattoirs within a short period.
However, those exports to Britain have slowed during the autumn with 5,346 animals shipped in October, the lowest monthly total this year.
A narrowing in the price differential and greater availability of slaughter fit sheep on the opposite side of the Irish Sea are factors behind the slowdown in exports.
Beef
The beef trade is holding firm with quotes up 2p to 484p/kg for U-3 grading animals. Steers and heifers continue to move around the 500p/kg mark, with good quality cows on 390p to 400p/kg.