IFA National Sheep Chairman John Lynskey has said that there should be a strong lift in lamb prices at the factories on the back of significant lamb price increases in the UK this week.
He said lamb prices at the UK auction marts increased by up to 20p/kg liveweight in the last week, driving their prices to £1.65/kg lw, which is equivalent to €5.27/kg.
John Lynskey said factories here had started to respond to the improved market situation with some paying €4.80/kg to get numbers, but the general run was €4.70/kg. He said on the back of the very strong price increase in the UK, factories here need to increase both quotes and paid prices to farmers. In addition, he said carcase weights also need to increase at the factories, adding that some plants had moved to 22kgs since Aug 1st for some payments.
The IFA sheep Chairman said numbers had tightened at the factories, with the total sheep kill for Aug 2nd down to 55,000 head or 4,500 on the same week last year. He said the kill has dipped well below last year’s level.