IFA National Sheep Chairman Sean Dennehy said lamb prices are rising, driven by substantial demand for the significant Muslin festival of Eid Al Adha, which begins on July 30th.
He said factories have increased quoted prices and paid prices this week to get lambs.
“Prices are ranging from €5.65/kg to €5.75/kg, with top prices of €5.80/kg paid. Farmers are also negotiating on weights up to 21.5kgs.”
He said factories are not able to get lambs at the lower quoted prices and are having to pay 30c to 35c/kg over quotes to get lambs.
Sean Dennehy said some factories are talking to suppliers and groups trying to pin down numbers and supplies right up to early August to be able to service the demand for Eid.
“Also, the lower volume of New Zealand imports in the UK and across the EU has left the market short.”
The IFA Sheep Chairman said the store trade is also robust in the marts with 35kg lambs making €85.
“Good grass growth is driving farmer demand.”
Ewes are making €2.65 to €2.80/kg.