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Live exporters continue to underpin the mart trade for fat lambs, forcing local processors to increase base quotes by 20p/kg to 30p/kg on last week.
Factories are now working from a base of 680p/kg, although several reports indicate deals of 690p and 700p/kg are widely available as buying agents look to keep pace with the live trade.
At mart sales held earlier this week, good-quality slaughter-fit lambs in the region of 22kg to 25kg half-weight were making £150 to £160.
That equates to deadweight prices in the region of 714p to 760p/kg with a significant proportion of lambs at the upper end of the outlined weight range being purchased for shipping to Britain.
Prices for plainer lambs sold through the ring are much more aligned with what local plants are paying at £140 to £145.
Recovery
Local processors moved quickly at the start of last week to pull prices as buying demand for Eid-Al-Adha finished.
Quotes had eased to 650p/kg with deals at 660p/kg. But the presence of live exporters ringside saw the trade rebound as the week progressed, leaving factories with little option but to respond.
With lambs in Britain returning 750p to 780p/kg this week, that differential is giving exporters a clear advantage around the rings.
Price gap
Since the start of the year, factory prices in Britain for hoggets and spring lambs have averaged 773p/kg, around 50p/kg above the average paid by local plants.
At its peak, the price gap was just over 100p/kg in March, and again in late May as demand outstripped supply.
Statistics published by DAERA show 79,377 sheep were exported live to Britain from January to May, the majority of which were processed within days of shipping.
A further 6,180 sheep moved for direct slaughter in Britain, of which 5,860 were exported in May and June. Total exports are up 92% on 2023 levels and 57% higher than 2022 figures.
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