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Fears that processors would move to significantly cut lamb prices this week have failed to materialise, with farmers reporting deals reaching 470p/kg paid on Monday and Tuesday.
By mid-week, there was some downward price movement, with quotes reduced by 5p to 465p/kg.
With the buying period for the Eid Al-Adha festival now over, factory agents were looking to cut prices further.
NI factory throughput of finished sheep totalled 12,100 head for the week ending 25 July
However, after a surge in throughput over the past two weeks, there are fewer lambs coming to the market, helping keep a floor under the trade.
NI factory throughput of finished sheep totalled 12,100 head for the week ending 25 July, the highest weekly kill since 10 August 2019 and third highest kill since early September 2017.
With an extra 25,000 head processed at local plants for the year to date, and exports to Irish slaughter plants up 16,000 on the year, supplies could be tighter than expected over the next few weeks.
Exports of sheep to Irish slaughter plants surged to 11,096 head last week, the highest since late November and third highest weekly figure recorded since mid-August 2018.
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