Processing demand is expected to outstrip supplies of slaughter fit lambs and hoggets within the UK during 2025, according to market analysts from the Livestock and Meat Commission (LMC).
Speaking at an industry webinar on Tuesday, which looked at improving efficiencies within lamb production, Jacqueline Liddicoat gave an overview of the current market and opportunities next year.
Factory throughput in NI is down 7.4% year-on-year, while exports to processing plants in the Republic of Ireland are down 10.7%.
A similar trend around supply exists in Britain.
Prices this year have been ahead of 2023 and are currently running 23.5% higher when compared to the same period last year.
“The average price for R3 lambs for the year-to-date is 677.7p/kg, up 19% on 2023,” said Liddicoat.
She outlined how EU forecasts show a modest 2% increase on price next year, given that supplies are expected to remain limited.
Meanwhile, official base quotes at local plants range from 660p to 675p/kg payable to 23kg, up 15p/kg on last week. However, deals start around 680p/kg and rise to 695p/kg.
Negotiating above this level is difficult without significant numbers of slaughter-fit lambs to offload.
At 695p/kg, local plants are in line with marts and factories south of the Irish border.