Factory agents have been trying hard this week to keep a lid on quotes.

Their approach has been to do deals with regular sellers and those trading at the top end of the market, while keeping base quotes unchanged.

Sellers trading at the higher end of the market are securing returns of €7.90/kg in the main for hoggets with some handling big numbers securing €8/kg this week.

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This opened up a differential of upwards of 10c/kg between prices paid to regular sellers and groups up to midweek, where the latter returns are based on base quotes plus a price top-up.

Such returns were typically in the region of €7.80/kg, with some prices hitting €7.90/kg.

Reports indicate that numbers traded through groups dipped as a result, with some finishers holding back sheep or opting to market them live.

A differential has now opened up between prices offered between plants.

The two Irish Country Meats plants have increased base quotes by 10c/kg and are now quoting a base of €7.60/kg plus their 20c/kg quality assurance (QA) payment.

Ballon Meats remains on €7.80/kg all in, while there is also no change in Dawn Kildare, which is quoting a base of €7.50/kg plus 10c/kg QA payment.

With the live trade pushing on, mart managers report higher numbers appearing this week that might otherwise have been sent direct for slaughter.

The mart price is in cases returning a higher margin after mart commission rates have been accounted for.

The supply-demand balance appears to have tilted in the favour of sellers, with agents trying to encourage higher numbers forward.

Last week’s sheep kill was recorded at 41,135 head, similar to the previous week despite factories offering deals and looking to entice higher numbers forward.

Ewe numbers are tight at just 3,123 head. There is also greater demand in the live trade and this is increasing competition.

Dawn Kildare has increased its base quote for good ewes to €4.50/kg plus 10c/kg quality assurance.

Ballon Meats remains well out in front with its quote of €5/kg.

Reports indicate that ewe prices have risen considerably in Britain and that has opened up greater demand for ewes being exported live from Northern Ireland.

Northern Ireland

Prices in Northern Ireland (NI) have increased again, but by a higher figure this week of 20p/kg. This leaves base quotes for Thursday at £6.70/kg or the equivalent of €7.80/kg.

Prices in Britain have jumped by 20p/kg to 30p/kg and now range from £7.30/kg to upwards of £7.50/kg (€8.50/kg to €8.72/kg) with prices varying across region.

Demand remains firm following a spike after the Ramadan festival. This is fuelling exports from NI to Britain and adding competition.