Sheep Trends: quotes vary from firm to 20c/kg lower

The severe price cuts experienced in recent weeks have finally halted, with quotes for Thursday from firm to 15c to 20c/kg lower on the week.

Base quotes remain hard to come by, as reflected in the quotes table.

The two Irish Country Meats plants in Camolin and Navan are quoting a base of €6.80/kg plus the plants’ 20c/kg quality assurance (QA) payment, while Ballon Meats has also reduced its quote by 20c/kg to an all-in price of €7.20/kg.

Reports indicate that another plant in the west has dropped its base quote to €6.85/kg plus 15c/kg QA, while reports from producers show quotes in the remaining plants vary anywhere from €7/kg to €7.20/kg.

Despite quotes dropping below €7/kg, there are few lambs trading below this level.

Opening prices are typically starting at €7/kg at the bottom end of the market.

Groups and regular sellers are securing €7.20/kg to €7.30/kg by means of group and conformation bonuses, while prices at the top end of the market are 5c/kg to 10c/kg higher.

Supplies of well-finished lambs are tight and this is particularly evident in mart sales.

Factory agents have been much more active in recent days for quality lambs, with prices steady in the main and experiencing some recovery in other sales (see sheep mart comment).

Last week’s kill increased by about 2,000 head, but still remains over 2,200 head lower than the corresponding week in 2023.

Lambs make up the majority of the 50,511 kill at 44,870 head.

There is still a small number of about 1,000 hoggets in the kill, with prices reported anywhere from €6/kg to €6.50/kg to €6.70/kg. Prices depend on carcase weight, quality and the processor-producer relationship.

There is also more life in the ewe trade, despite quotes being unchanged. Factory quotes remain in the main from €3.90/kg to €4/kg, with Ballon Meats remaining well out in front at €4.40/kg.

The live trade is providing a very good alternative for heavy ewes and reports indicate some plants are willing to do deals on carcase weights to try to entice sellers to trade.

Northern trade

Factories in Northern Ireland have had to revise quotes upwards by 10p/kg to a base of £5.60/kg for Thursday. This is the equivalent of €6.67/kg at a stronger exchange rate of 84p to the euro.

Reports indicate that groups and regular sellers are securing 10p/kg higher, with prices at the top end of the market heading for £5.75/kg to £5.80/kg.

The presence of buyers from Britain at the ringside is said to be helping competition, with a significant differential of 70p/kg to 80p/kg remaining between prices in Northern Ireland and Britain.

Their absence in recent weeks allowed exports to Ireland for direct slaughter increase by 1,538 head to 5,414 last week.