Demand Ahead of the Eid Festival Pushes Lamb Price On
IFA Sheep Chairman Sean Dennehy said demand for lamb is heating up for next week, with factories and live shippers competing strongly.
“Next week is the peak buying week for the Eid festival starting on July 20th and live shippers are providing real competition with €3/kg to 50kgs offered to secure suitable lambs,” he said.
Sean Dennehy said factories have had to increase prices again and deals to €6.60/kg are available with weights of 21.5kg also offered by factories.
“After the Eid festival, breeding sales and store buyers will underpin the trade and with significant numbers of lambs already sold this year, it’s very unlikely there will be any glut of lambs,” he said.
He said cull ewes are also in strong demand with €3.60/kg paid.
Sean Dennehy said in mart sales sheep prices have also strengthened for all types.
Store lamb sales have started strongly with up to €70 over the weight paid for good quality lambs. Cull ewe prices are particularly strong in marts with large-framed, well-fleshed cull ewes exceeding €200 in some sales.
The IFA Sheep Chairman said farmers should sell hard in favourable market conditions, while moving lambs as they become fit to maximise returns.