Lamb prices have increased by 20c/kg to 30c/kg in the last week. A high percentage of lambs are trading in the region of €8.30/kg to €8.40/kg, with top prices rising to €8.50/kg.

Deals are also being completed on carcase weight, with the two ICM plants the first to officially increase carcase weights to 23.5kg.

Factory agents are struggling to source required supplies and have lifted prices in an attempt to entice further numbers forward.

While reports indicate this has resulted in higher numbers coming on to the market, throughput remains well below the norm, reflected in last week’s kill of just 37,227 head.

This is a massive 18,613 head lower than the corresponding week in 2023.

Throughput in the last four weeks alone is running approximately 80,000 head lower year-on-year, with total throughput for 2024 now running 315,000 head lower. This is despite prices currently running €1.65/kg, or almost €40 per head, higher.

Factories in Northern Ireland have also increased quotes by 10p/kg to 15p/kg and officially lifted carcase weight limits by 1kg to 23kg. Opening quotes for Thursday are in the region of £6.60/kg (€7.97/kg), with 15p/kg to 20p/kg higher being paid at the top-end of the market.

Supplies are deficient right across Europe and fuelling higher prices.

French lamb prices broke the €10/kg mark last week, while Spanish lamb prices are reported by Bord Bia as averaging €9.73/kg.