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Base quotes have been pulled significantly at three time periods over the last week, with cuts equating to a reduction of €10 to €15 on a carcase weighing 21kg.
In addition to peak throughput in factories reports indicate the festival will significantly boost the number of sheep exported live from Ireland and Northern Ireland.
A weekly kill of between 60,000 and 70,000 head is expected, with factories ramping up processing capacity and some planning to operate at the weekend.
Last week's kill was recorded at just 42,826 head and it is hard to see where an additional 20,000 to 30,000 sheep will appear from to meet demand for the Eid al-Adha festival.