Increased Demand and Tighter Supplies to Drive Lamb Trade – IFA
IFA National Sheep Chairman Sean Dennehy said the lamb trade remains solid with prices expected to increase over the coming weeks as we enter a period with additional demand for Easter and Ramadan and tighter supplies.
He said, “Factories are paying €5.40 to €5.50/kg for quality lambs, with feeders holding out for €5.60/k. Ewes are making from €2.85/k to €3.00/kg.”
The IFA Sheep Chairman said factories were anxious to source lambs and are finding it difficult to secure adequate numbers. Good butcher lambs are also scarce and buyers are prepared to pay more to get the right article.
Sean Dennehy said supplies have already tightened considerably with the weekly kill for w/e March 10th back 20% on last year’s figures and down to 37,626 head from 45,132 for the same week last year.
He said this has left supplies tight at the factories with agents and procurement managers having to pay significantly over the quoted price to get stock.
Sean Dennehy said increased demand and buying for Easter on April 20th and Ramadan on May 5th is expected to kick in soon and this should boost the trade over the coming weeks and months ahead.
The IFA Sheep farmers leader said lamb prices were also rising in the UK with the deadweight price at £4.19/kg, which is equivalent to €5.14/kg incl. vat.