The upward momentum in sheep prices since the turn of the year has eased in the last week. The main export plants remain on a similar quote of €5.20/kg, excluding bonuses, with Moyvalley Meats and Ballon Meats on a flat quote of €5.30/kg.

Plants moved over the weekend to take the upward momentum out of the trade, with factory agents easing activity in marts. Plants have also dug in on their top quotes and are reluctant to exceed a price of €5.50/kg.

At the same time, numbers have tightened even further, with the weekly kill falling to 36,382 head, down from 38,894 the previous week.

As such, agents have been careful not to let any deals fall through, which has also resulted in the differential between the average and top prices closing.

Most sellers, even with small numbers, are securing €5.40/kg and those with higher numbers and quality-assured (QA) lamb securing €5.45/kg to €5.50/kg. Specialised feeders with large numbers on offer and producer groups have, in some cases, exceeded €5.50/kg to the tune of 5c/kg to 10c/kg by way of producer bonuses.

Lower NI quote: Northern quotes have eased by 5p/kg to 10p/kg further, to £3.95/kg to £4.00/kg, or the equivalent of €5.52/kg to €5.59/kg including VAT. This follows last week’s drop of 10p/kg to 20p/kg.

Imports south remain steady at 7,040 head, with year-on-year imports on a par. The fall in price reduced last week’s throughput, with the weekly kill falling from just under 6,000 head to 5,144 lambs.

Prices have also eased in Britain to £4.10/kg, or the equivalent of €5.73/kg. A significant factor in prices reducing back is the weakening of the euro to sterling. While this benefits imports such as beef, it leaves Britain’s sheepmeat exports more expensive in continental EU markets and at a weaker competitive advantage.

Solid ewe trade: The ewe trade remains solid, with plants keen to use ewes to somewhat compensate falling supplement. Even with greater demand, ewe and ram throughput fell by over 600 head last week to 3,819 ewes and rams. The combined fall leaves weekly throughput lagging 9,560 head behind last year’s levels.

Quotes remain at €3.20/kg, but again there are higher prices being secured. Sellers with small numbers are securing €3.30/kg to €3.40/kg, while large finishers and dealers are reported as securing €3.50 to a top of €3.70/kg.

IFA National Sheep Committee chairman John Lynskey said the UK lamb trade has also moved on strongly, with deadweight prices at £4.05/kg, the equivalent to €5.67/kg including VAT.

A real sign of the strength of the sheep trade is reports of cull ewes making £130 to £140/ head, or up to €196 including VAT.

He said supplies are forecast to remain tight this spring, which should also benefit the Irish trade.