Lamb prices are coming under pressure as plants reduce base quotes by as much as 20p/kg, with 490p to 495/kg on offer mid-week. This wipes more than £4 off the value of factory lambs.

The downward pressure on the trade is due to higher availability of new season lambs, set against reduced processing demand with the end of the Ramadan festival.

Weather is also a factor as dry conditions are limiting grass growth, with more farmers looking to draft lambs.

South of the Irish border, the trade is facing similar challenges as drought in the east is resulting in sheep farmers looking to offload lambs as soon as they reach an acceptable fat cover.

Base quotes

Earlier this week, southern plants reduced base quotes by 10c to €5.90/kg, which at current exchange rates converts to a sterling equivalent of 500p/kg.

In Britain, lamb prices are much firmer on the back of lower supplies. Prices in Scotland were typically 540p/kg on new season lambs earlier this week.

Read more

Sheep prices: factories reduce quotes by 10c/kg

Great prices for late calves in Kilkenny