Sheep throughput continues to lag well below recent years, with throughput of just 110,678 head running 45,000 head lower than last year after just three weeks. The 29% year-on-year reduction in throughput reflects the tightness of hoggets and processor fears regarding output for 2025.

Last week’s kill was recorded at 40,404 head, which equates to a reduction of 11,652 head, or 22%, on the corresponding week in 2024. This is despite prices running over €2/kg higher than the corresponding period in 2024.

Factories have moved this week to try to regain some control of the trade and steady prices following weeks of upward movement.

Base quotes were cut by 10c/kg to 20c/kg since the start of the week, although plants remain keen for numbers.

Quotes for quality-assured hoggets are in the region of €9/kg to €9.10/kg, with prices at the higher end of the market ranging from €9.20/kg to €9.30/kg. The cull ewe trade is solid, with factories quoting €4.80/kg to €5/kg in the main.

Quotes in Northern Ireland have also reduced 10p/kg and have fallen below the £7/kg mark (€8.29/kg), at £6.90/kg (€8.17/kg). However, the majority of hoggets continue to trade above £7/kg, with regular sellers securing 10p/kg to 20p/kg above quoted prices.

Positive forecast

Sheep markets are forecast to perform positively in 2025 despite this week’s blip in price.

Speaking at last week’s Bord Bia sheep market seminar, sheep sector manager Seamus McMenamin said that production across Europe remains in decline and is expected to fall by 1.8% again in 2025. This is expected to bolster demand in key export markets, with demand expected to be particularly strong around religious festivals.