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NI sheep processors have moved to cut quotes for hoggets by 10p to 20p/kg this week, with base prices back to 510p to 520p/kg.
However, farmers are resisting the price cuts, pushing factory agents to offer deals of 525p/kg to 535p/kg to keep pace with the mart trade where meal-finished hoggets are still making £115 to £120.
Some agents indicate that processors are looking to keep a lid on prices before buying demand ramps up in early March in preparation for Ramadan.
In the Republic of Ireland, processors have also moved to reduce quotes, which are down by 10c/kg with €6.30/kg buying the majority of hoggets midweek.
This converts to a sterling price of 532p/kg.
Cattle steady
In the cattle trade, finished animals are a steady trade this week, with price deals similar to last week. This keeps prime U-3 grading steers and heifers moving around 474p/kg to 476p/kg with more regular finishers commanding 2p/kg to 4p/kg more.
Cull cows remain highly sought after and prices are generally starting from a base of 400p/kg for good-quality suckler types.
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