IFA Sheep Chairman Sean Dennehy said strong farmer resistance and tight supplies of suitable lambs means factories are not succeeding in getting lamb prices back to the lower levels quoted.
“Buying has started for the EID festival and factories are very anxious to secure supplies including competing strongly in mart sales for lambs and cull ewes,” he said.
Sean Dennehy said factories are paying €7.00 to €7.20/kg, with deals to €7.30/kg to secure lambs. Cull ewes are making €3.30 to €3.60/kg.
Last week’s slaughter figures were back almost 3,000 head on the same week last year at 49,325, with the slaughter figures for the year back 81,551 head or 7%.
The IFA Sheep Chairman said farmers should sell hard as factories look to fill orders for the EID festival.