There are hopeful signs this week that lamb prices will stabilise at current levels with lambs trading in the main from €5.90/kg to €6.10/kg.
This follows price cuts of 20c/kg in the last 10 days with cumulative price cuts in recent weeks amounting to between 30c/kg and 40c/kg or €6 to €8 on a typical 21kg carcase.
Reports this week point to smaller entries of slaughter-fit sheep being presented in many mart sales, while many producer groups also report lower bookings of lambs travelling direct for slaughter.
The store lamb trade is holding solid
This is partly due to some producers now holding lambs to heavier weights to compensate for lower prices.
The store lamb trade is holding solid with strong grass growth rates fuelling demand. Mart managers also report beef farmers who purchased lambs in 2020 due to BEAM-related constraints on stocking rates are returning after a successful experience.
Finished lamb prices are running €15 per head above 2020 levels while store lambs are running anywhere from €5 to €10 higher.